Hudbay Minerals Inc. stock is up about 30 per cent over the past three months. Despite the rally, the stock still sports a relatively cheap price-to-book ratio of about 0.6. We also continue to see insider buying. For example, on May 21, board chairman Stephen Lang bought 20,000 shares in the public market. However, most of the insider buying came from institutional players (not shown on chart). Over the past month, GMT Capital spent about $3.8-million buying stock, while Waterton Global Resource Management has spent about $2.9-million buying shares.
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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.
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Ted Dixon