The Globe and Mail reports in its Saturday, Sept. 12, edition that Matco Financial manager Anil Tahiliani has recently sold Metatek-Group. In a special to The Globe, Brenda Bouw writes that the U.K.-based geophysical services company is a stock Mr. Tahiliani recently sold in August around the $3 a share range. He bought it when it went public in March of this year at $5. Mr. Tahiliani says: "Metatek is a unique company with a partnership with Lockheed Martin to use technology to discover critical minerals underground. Unfortunately, the stock hasn't done well since mid-June. We didn't see any near-term catalysts.
We decided to take a tax loss because the fund realized some massive gains this year. We would want to see more contract wins and more research coverage before considering buying it back in the future.
This interview has been edited and condensed." The Globe reported on April 14 that Canaccord Genuity analyst Aravinda Galappatthige had commenced coverage on Metatek-Group with a "buy" recommendation and an $8 share target. The shares could then be had for $4.90.
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