Teck Resources stock dropped 5.55 per cent on Feb. 13 after fourth-quarter results. Investors were likely disappointed with quarterly earnings of $433-million, down from $740-million a year earlier. However, management highlighted 2018 record annual performance for revenue, EBITDA and profit.
A pair of insiders saw the dip as a buying opportunity, spending a combined $2.23-million buying shares on Feb. 28.
The Globe and Mail
Meanwhile, Teck has bought back more than $136-million worth of its own shares over the past 90 days (not on chart).
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 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.