Forestry is an area of the market that only a contrarian could love.
West Fraser Timber Co. Ltd. stock is down 35 per cent over the past year on the back of tumbling lumber prices and housing concerns. The Fed has now put a halt to interest rate hikes, but that has not put a stop to the slide in West Fraser Timber stock.
However, insiders are betting that the tide will eventually turn. Over the past 90 days, seven insiders have spent $1.4-million buying stock in the public market.
Ted Dixon is CEO of INK Research which provides insider news and knowledge to investors. For more background on insider reporting in Canada, visit the FAQ section at www.inkresearch.com. Securities referenced in this profile may have already appeared in recent reports distributed to INK subscribers. INK staff may also hold a position in profiled securities.
Chart reflects public-market transactions of common shares or unit trusts by company officers and directors.