The Fed is buying US$60-billion a month in Treasury bills until at least the second quarter of next year. That will help keep a lid on short-term rates, which, in turn, should keep the carry costs of commodities low. Major Drilling Group International Inc., which provides drilling services to mining companies, could benefit in this new Fed commodity-friendly environment. The stock is near 52-week highs and an insider has been buying, which is a positive sign. On Oct. 11, director Kimberly Keating purchased 4,200 shares at $6.
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.