The Globe and Mail reports in its Saturday, Nov. 24, edition that Barrick Gold ($17.40) is one of three new gold stocks added to the INK Canadian Insider Index in its semi-annual rebalancing that took effect on Nov. 16. The Globe's guest columnist Ted Dixon writes in the Who's Buying and Selling column that Barrick gained its spot owing to high insider commitment, which drove it up INK's rules-based rankings screens.
Over the past 180 days, three insiders, led by executive board chairman John Thornton, have spent a combined $32.9-million picking up shares in the public market. The most recent purchase took place on Oct. 1, when Mr. Thornton bought 165,689 shares. The Globe reported on Sept. 26 that TD analyst Greg Barnes hiked Barrick to "buy" from "hold." In the same item, Citi Group analyst Alexander Hacking moved the stock to "buy" from "neutral." Both analysts targeted the stock at $14. Barrick shares could then be had for $14.51. The Globe reported on Oct. 25 that RBC Dominion Securities analyst Stephen Walker maintained his "sector perform" rating on Barrick. He targeted the shares at $21. The shares could then be had for $16.43.
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