Featured below are companies that have experienced recent insider trading activity in the public market through their direct and indirect ownerships, including accounts they have control or direction over.
The list features insider transaction activity; it does not convey total ownership information as an insider may hold numerous accounts.
Keep in mind, when looking at transaction activities by insiders, purchasing activity may reflect perceived value in a security. Selling activity may or may not be related to a stock’s valuation; perhaps an insider needs to raise money for personal reasons. An insider’s total holdings should be considered because a sale may, in context, be insignificant if this person has a large remaining position in the company. I tend to put great weight on insider transaction activity when I see multiple insiders trading a company’s shares or units.
Listed below are three stocks that have had recent buying activity reported by insiders.
Chesapeake Gold Corp. (CKG-X)
On July 27, Canadian billionaire businessman Eric Sprott, with an ownership position exceeding 10 per cent, acquired 200,000 shares at a price per share of $5.48 for an account in which he has indirect ownership (2176423 Ontario Ltd.). The cost of this purchase totaled approximately $1.1-million.
Previously, we reported that between July 3-17, Mr. Sprott invested over $1.2-million in shares of this company. He purchased a total of 260,500 shares at an average price per share of roughly $4.70 for this account.
Year-to-date, the stock price is up 124 per cent.
Discovery Metals Corp. (DSV-X)
On July 23, Mr. Sprott, with an ownership position of approximately 27 per cent, bought 3,233,700 shares at a price per share of $1.32 for an account in which he has indirect ownership (2176423 Ontario Ltd.). The cost of this investment exceeded $4.2-million.
Discovery’s flagship mine is its 100-per cent owned Cordero project located in northern Mexico.
In a news release issued by Discovery on July 24, Mr. Sprott commented on his commitment to the company, “Discovery provides unmatched leverage to a rising silver price and I am very encouraged to see the Discovery team continue to execute on their plans at the Cordero project. I have continually grown my position in the company and it is now one of my largest investments in the silver space.”
Year-to-date, the share price is up 203 per cent.
Exco Technologies Ltd. (XTC-T)
On Aug. 4, Edward Kernaghan, who sits on the board of directors, invested over $360,000 in shares of Exco. He purchased a total of 56,300 shares at an average cost per share of roughly $6.41 for an account in which he has indirect ownership (Kernwood Limited), lifting this account’s holdings to 6,493,000 shares.
Listed below are two stocks that have had selling activity reported by insiders.
Agnico Eagle Mines Limited (AEM-T)
On Aug. 4, these insiders individuals completed transactions:
Chief financial officer David Smith sold 10,000 shares at a price per share of $107, leaving 62,532 shares remaining in this particular account. Proceeds from the sale exceeded $1-million, excluding commission charges.
Gregory Laing, general counsel and senior vice-president – legal, exercised his options, receiving 10,000 shares at a cost per share of $36.37, and sold 10,000 shares at a price per share of $104.33 with 68,005 shares remaining in this account. Net proceeds totaled over $679,000, not accounting for any associated trading fees.
Louise Grondin, senior vice-president – people and culture, exercised her options, receiving 11,500 shares at an average cost per share of approximately $62.65, and sold 11,500 shares at a price per share of $104.68, leaving 61,989 shares in this account. Net proceeds totaled over $483,000, excluding any associated trading fees.
Marc Legault, senior vice-president of operations – U.S.A. and Latin America, exercised his options, receiving 20,000 shares at an average cost per share of approximately $46.41, and sold 20,000 shares at an average price per share of roughly $107.21, after which this account held 65,824 shares. Net proceeds exceeded $1.2-million, not including any associated transaction fees.
TFI International Inc. (TFII-T)
On July 30, chairman of the board, president and chief executive officer Alain Bédard exercised his options, receiving 130,000 shares at an average cost per share of roughly $15.64, and sold 130,000 shares at a price per share of $57.15. Net proceeds totaled nearly $5.4-million, not including any associated fees. After these transactions, this particular account held 4,149,818 shares.
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