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 or perhaps shares may be sold to address tax implications when options and rights are exercised. 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. In addition, I tend to put great weight on insider transaction activity when I see multiple insiders trading a company’s shares or units. Furthermore, it can be of value to note if an insider’s share or unit balance (investment in the company) is trending higher or lower.
Listed below is a dividend stock that has had recent buying activity reported by an insider.
Canadian Western Bank (CWB-T)
On July 9, director Sandy Riley invested over $100,000 in shares of this stock. He purchased 4,400 shares at a cost per share of $22.89, increasing this account’s holdings to 17,499 shares.
The company pays its shareholders a quarterly dividend of 29 cents per share, or $1.16 per share yearly, equating to a current annualized yield of 5 per cent.
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Listed below are three stocks that have had selling activity reported by insiders.
Endeavour Mining Corporation (EDV-T)
On July 7, Patrick Bouisset, executive vice-president of exploration and growth, divested 41,300 shares at a price per share of $35.01, reducing this account’s holdings to 294,127 shares. Proceeds from the sale, excluding any commission charges, totaled over $1.4-million.
Ero Copper Corp. (ERO-T)
On July 8, Christopher Noel Dunn, who co-formed the company in 2016 and is the executive chairman, divested 50,000 shares at an undisclosed price, trimming this specific account’s position to 2,777,281 shares. That day, the stock traded at a low of $18.63 and a high of $18.92. Based on the low of the day, proceeds from the sale, not including commission charges, exceeded $931,000.
Previously, we reported the following transactions.
On June 29, Pablo Mejia-Herrera, vice-president – exploration, exercised his options, receiving 13,555 shares at a cost per share of $9.76, and sold 13,555 shares at an undisclosed price. That day, the share price traded between $18.62 and $19.49. Taking a conservative approach and assuming his shares were sold at the low of the day, $18.62, net proceeds (excluding any commission charges) totaled over $120,000.
On June 25, chief financial officer Wayne Drier exercised his options, receiving 50,000 shares at a cost per share of U.S. $1.50, and sold 50,000 shares at an undisclosed price. That day, the share price traded between Cdn. $17.82 and Cdn. $18.55.
SilverCrest Metals Inc. (SIL-T)
On July 8, chairman Graham Thody exercised his options, receiving 150,000 shares at a cost per share of $2.30, and sold 150,000 shares at a price per share of $12.5389, leaving 343,571 shares in this specific account. Net proceeds, not including any trading costs, exceeded $1.5-million.
Between June 30 and July 2, chief financial officer Anne Yong exercised her options, receiving 16,800 shares at a cost per share of $1.88, and sold 16,800 shares at an average price per share of approximately $12.52 with 102,834 shares remaining in this particular account. Net proceeds, not including any trading costs, totaled over $178,000.
On June 30, corporate secretary Bernard Poznanski exercised his options, receiving 50,000 shares at a cost per share of 16 cents, and sold 50,000 shares at an average price per share of roughly $12.40, after which this specific account held 64,663 shares. Net proceeds, not including any trading fees, exceeded $611,000.
Jennifer Dowty