Selling at Teck Resources
Over the past six months Teck Resources Ltd. (yesterday's close $28.35), stock is up about 400 per cent. As the price surpassed the $25 mark in July for the first time since last fall, some insiders took profits. While the sale amounts were small, price levels are worth noting, given the run-up of the stock both on an absolute and relative basis this year.
On July 27, an officer sold 6,000 Class B shares at $26.31 after exercising the same number of options with an average exercise price of $19.28. On the same day, a different officer sold 2,000 Class B shares at $26.45. The most recent insider purchase was in June when 10-per-cent holder Caisse de dépôt et placement du Québec bought 89,200 Class B shares between the prices of $18.44 to $18.83 (not shown on chart).
Ted Dixon is CEO of INK Research which provides insider news and knowledge to investors about
Canadian markets. INK employees
or directors may hold shares in
investments profiled. Securities
referenced in this profile may have
already appeared in recent reports distributed to INK Research clients.
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