Morning INK Report :: CEO buying again at Sabina Gold & Silver

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This highlighted stock feature was published before the market open on Oct. 30 for INK Research subscribers.

Today we revisit Sabina Gold & Silver (SBB) which is the top ranked stock in the October edition of our INK Edge Top 40. Gold stocks have made an impressive showing in the list despite strong indications that the Fed wants to raise interest rates in December. Since we last featured it on September 23rd, Sabina Gold & Silver stock is up 58.9%, outperforming the BMO Junior Gold Index ETF (ZJG) and the iShares S&P/TSX Global Gold Index Fund (XGD) which are up 8.2% and 14.1% respectively. As the stock has surged, the CEO has continued to buy.

It is worth noting that technical indications put Sabina Gold & Silver in borderline overbought territory. As of the 28th, its RSI was 73.28 and while its closing price of $0.59 was below its upper Bollinger bound of $0.6127, its intraday high on the day (which also happens to be a 52-week high) reached $0.64.

On October 29th, Sabina Gold & Silver filed the full technical report for their Back River gold project feasibility study on SEDAR. Earlier, on October 13th, the company announced some grab sample assay results for the same project. The samples returned gold values of up to 33.86 grams/tonne at their Kogoyok drill target. 

From October 1st to October 27th, Sabina Gold & Silver President, Director, and CEO Bruce McLeod (KAM) acquired a total of 68,000 common shares on a direct ownership basis at an average price of $0.50. Mr. McLeod is the fourth largest insider equity holder at the company with 0.26% of shares outstanding.

Earlier, from September 24th to September 28th, 10% holder Sun Valley Gold LLC acquired a total of 117,500 common shares at an average price of $0.38 (not shown on chart). Sun Valley has investments in a number of gold mining firms including Belo Sun Mining (BSX) which is also in our INK Top 20 Gold and Precious Metals Stocks this month.

Sabina Gold & Silver currently holds a sunny INK Edge outlook on the equally weighted V.I.P. criteria of valuations, insider commitment and price momentum which places it in the top 10% of all stocks ranked. INK outlook categories are designed to identify groups of stocks that have the potential to out- or under-perform the market. However, any individual stock could surprise on the up or downside. As such, outlook categories are not meant to be stock-specific recommendations.

In addition to being the top ranked stock in our October INK Edge Top 40, Sabina Gold & Silver is also the top ranked stock in the October edition of our INK Top Gold and Precious Metals Stocks list on the strength of its combined INK Edge outlook ranking.

The INK Edge Top 40 and Top 20 Gold and Precious Metals stock reports are published monthly for INK Research subscribers and are available for purchase on this website in PDF format.

Disclosure: One or more INK employee owns shares of Sabina Gold & Silver Corp.

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