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Inside the Market Tuesday’s Insider Report: Management executive sells over $3-million worth of this blue-chip stock

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.

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Let's begin the report featuring a security that has had recent insider buying activity.

PrairieSky Royalty Ltd. (PSK-T)

On Aug. 30, president and chief executive officer Andrew Phillips purchased a total of 7,500 shares for two accounts at an average price per share of approximately $23.90. He acquired 5,000 shares in his personal account, increasing its holdings to 538,461 shares, and 2,500 shares were purchased for an account in which he has indirect ownership.

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The following four stocks have had recent insider selling activity.

Canadian National Railway Company (CNR-T)

On Aug. 28, Keith Reardon, senior vice-president- consumer product supply chain growth, divested 1,700 shares at a price per share of U.S.$90.243, trimming his account balance to 7,667 shares.

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In a previous issue, we reported that Sean Finn, executive vice-president corporate services and chief legal officer, exercised his options and sold the corresponding number of shares (11,334) at a price per share of $116.3878 on Aug. 17, leaving 13,750 shares in his portfolio.

Chorus Aviation Inc. (CHR-T)

On Aug. 24, president – Voyageur Aviation Scott Tapson sold 21,204 shares at a price per share of $7.70, reducing his account’s holdings to 13,982 shares.

OceanaGold Corp. (OGC-T)

In recent days, two senior management executives were sellers in the public market.

On Aug. 23, president and chief Executive officer Mick Wilkes sold 43,000 shares at a price per share of $4.04 for an account in which he has indirect ownership, leaving 636,045 shares remaining in the account.

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On Aug. 21, chief operating officer Michael Holmes sold 20,000 shares at a price per share of $4.02, trimming his portfolio’s position to 163,453 shares.

Suncor Energy Inc. (SU-T)

In a sale valued at over $3-million, senior vice-president and general counsel Janice Odegaard exercised her options and sold the corresponding number of shares (60,000) at a price per share of $54 on Aug. 29, leaving 12,470 shares in her account.

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