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Last week at Inside the Market, we took a look at the Canadian stocks with the most insider buying. Today, we put the spotlight on the companies that are seeing the most selling by corporate directors and officers in their own businesses.

This information was compiled by INK Research and is based on public-market transactions over the past 60 days. There are actually two lists: the first is ranked by dollar value, and the second by share volume.

You'll notice that Potash Corp. is at the top of the list by value, where it has been for several weeks now. It also made the list for net selling by share volume. The company slashed its full-year guidance on Oct. 17. On Oct. 31, it disclosed it held discussions with Israeli government officials that would increase Potash Corp.'s stake in Israel Chemical Ltd. As you can see in the accompanying infographic, the majority of the insider transactions took place in late September. Much of this was tied to the exercise of options by a number of executives, including CEO Bill Doyle, according to data on Ink's Canadianinsider website

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No. 2 on the list, based on value, is Franco-Nevada. Much of this selling took place in September in connection with the exercise of options, as the company's stock price was trending higher.

Overall, Canadian insiders picked up the buying pace last week as stock markets retreated in the aftermath of the U.S. elections. INK's sentiment indicator for the TSX has inched close to the 120 per cent level, which means there are 1.2 stocks on the TSX with key insider buying for every stock with key selling. INK analysts note that such levels are traditionally a bullish sign over the next one- to two-year period. The energy sector is especially seeing a strong month of net insider buying.

Net selling by value:

1. Potash Corp. of Saskatchewan, -$67,878,199

2. Franco-Nevada, -$38,680,187

3. Power Financial, -$34,842,938

4. Allied Nevada Gold, -$34,513,930

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5. CGI Group, $27,044,104

6. Continental Gold, -$19,150,688

7. Goldcorp, -$17,950,400

8. Valeant Pharmaceuticals, -$14,914,561

9. Royal Bank of Canada, -$14,102,094

10. Dollarama, -$11,492,204

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Net selling by share volume:

1. Woulfe Mining, -7,000,000

2. Nordic Oil and Gas, -2,625,563

3. Continental Gold, -2,047,500

4. Banro, -1,886,200

5. Summit Industrial Income, -1,876,750

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6. Rio Alto Mining, -1,736,500

7. Potash Corp. of Saskatchewan, -1,601,482

8. Power Financial, -1,373,100

9. Torex Gold Resources, -1,293,500

10. WPC Resources, -1,108,000

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