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Ten companies with recent insider buying activity

Expansion work at Cenovus' Christina Lake operations in northern Alberta.

CENOVUS ENERGY INC.

Featured below are 10 companies that have experienced recent insider buying activity in the public market through their direct and indirect ownerships. Insider trading activity was light for larger cap companies ahead of the first-quarter earnings reporting season.

Keep in mind, when looking at transaction activities by insiders, purchasing activity may reflect perceived value in a security. I tend to put great weight on insider transaction activities when I see multiple insiders buying shares of a company.

Belo Sun Mining Corp. (BSX-T)

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On April 12, Sun Valley Gold LLC, with an ownership position of over 10 per cent, accumulated 791,000 shares at a price of 70.77 cents per share for client accounts.

Cenovus Energy Inc. (CVE-T)

On April 10, president and chief executive officer Brian Ferguson added 20,000 shares to his portfolio, bringing his portfolio's holdings up to 155,966 shares.

Last week, we reported that Al Reid, the executive vice-president of environment, corporate affairs, legal and general counsel, bought 9,800 shares at a price of $15.059 per share on April 5. Two days prior, board member Richard Marcogliese purchased 5,000 shares.

Extendicare Inc. (EXE-T)

On April 12, Alan Hibben, who sits on the board of directors, accumulated 5,000 shares at a price of $10.24 per share, doubling his portfolio position to 10,000 shares. In addition, in a relatively small trade, corporate secretary Jillian Fountain purchased 700 shares at a price of $10.15 per share on April 7.

Guardian Capital Group Ltd. (GCG.A-T)

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Barry Myers, who sits on the board of directors, accumulated 2,200 shares on April 11, purchased 800 shares on April 10 at a price of $27.20 per share, and bought 1,000 shares at a price of $27 per share on April 7. These purchases increase his portfolio's position to 11,300 shares.

Leagold Mining Corp. (LMC-X)

Chairman of the board of directors Frank Giustra purchased 200,000 shares at a price of $2.5007 per share on April 10, raising his portfolio's position to 2,866,900 shares.

Penn West Petroleum Ltd. (PWT-T)

Board member John Brydson purchased 250,000 shares on April 13, raising his portfolio's holdings to 2,053,000 shares.

SIR Royalty Income Fund (SRV.UN-T)

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In a relatively small transaction, trustee Kim van Nieuwkoop purchased 2,350 units at a price of $14.78 per unit, lifting her portfolio's position to 3,850 units.

Tamarack Valley Energy Ltd. (TVE-T)

Investment manager GMT Capital Corp., with an ownership position of over 10 per cent, has been accumulating shares. Two of its largest recent transactions occurred on April 6 and 7, with the purchase of 735,900 shares and 1,321,100 shares, respectively.

Tidewater Midstream and Infrastructure Ltd. (TWM-X)

On April 10, Joel MacLeod, the president and chief executive officer, purchased 45,000 shares at a price of $1.52 per share, bringing his portfolio positon up to 4,532,200 shares. In addition, board member Doug Fraser bought 50,000 shares at a price of $1.52 per share, increasing his portfolio's holdings up to 152,700 shares.

On April 7, vice-president of logistics and midstream operations Jarvis Williams bought 80,640 shares at a price of $1.55 per share, bringing the portfolio's position up to 487,640 shares. Meanwhile, that same day, Mr. MacLeod added 26,000 shares at a price of $1.533 per share to his portfolio.

Last week, we reported that Mr. MacLeod, purchased 55,000 shares at a price of $1.4543 per share on April 5, bought 51,000 shares at a price of $1.461 per share on April 4, and accumulated 50,000 shares at a price of $1.478 per share on April 3. In addition, board member David Wright bought 25,000 shares on April 4, and Doug Fraser, purchased 50,000 shares at a price of $1.49 per share that same day.

Westaim Corp. (WED-X)

Board member,Peter Puccetti purchased 525,000 shares at a price of $3.20 per share on April 7. The prior day, he bought 616,684 shares.

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About the Author
Equities analyst

Jennifer Dowty has been an investment reporter and equities analyst at The Globe and Mail since 2015. Prior to joining The Globe and Mail, she worked for approximately 18 years in the financial industry, of which nearly 14 years were at Manulife Asset Management. More

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