Thursday’s Insider Report: CEO invests $560,000 in this stock forecast to nearly double

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 securities that have had recent buying activity in the public market reported by insiders.

Allied Properties REIT (AP-UN-T)

On June 16, Hugh Clark, executive vice-president of development, bought 7,000 units at a price per unit of $33.64, after which this specific account held 27,415 units. The cost of this investment exceeded $235,000.

i-80 Gold Corp. (IAU-T)

On June 10, chief executive officer and director Ewan Downie invested $560,000 in shares of i-80. He purchased 200,000 shares at a price per share of $2.80, raising this particular account’s holdings to 5,364,427 shares.

According to Refinitiv, the stock has a unanimous buy recommendation from six analysts with an average 12-month target price of $5.43, implying the share price has 94 per cent upside potential over the next year. Individual target prices are: $4.75 (from Scotia’s Ovais Habib), $5, $5.40, $5.50, $5.75 and $6.20 (from Stifel’s Ian Parkinson).

Lundin Mining Corp. (LUN-T)

On June 16, director Juliana Lam invested over $96,000 in shares of Lundin Mining. She purchased 10,000 shares at a cost per share of $9.61, after which this particular account held 20,000 shares.

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Listed below is a stock that has had recent selling activity in the public market reported by an insider.

Computer Modelling Group Ltd. (CMG-T)

On June 10, vice-chairman Ken Dedeluk sold 200,000 shares at a price per share of $5 for an account in which he has direct ownership, reducing this specific account’s holdings to 670,700 shares. Proceeds totaled $1-million, excluding commission charges.

In a separate account (RRSP), between May 24 and June 10, he sold a total of 65,100 shares at an average price per share of roughly $5, leaving 619,900 shares in this particular account. Proceeds from the sales exceeded $325,000, not including any associated fees.

Mr. Dedeluk is the company’s former president and chief executive officer.

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