Wednesday’s Insider Report: Chair invests in this surging food infrastructure stock that’s up 39% in 2022

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 two stocks that have had buying activity in the public market reported by insiders.

Bear Creek Mining Corp. (BCM-X)

On March 18, chair of the board of directors Catherine McLeod-Seltzer invested nearly $100,000 in shares of Bear Creek.  She bought 100,000 shares at an average cost per share of approximately 99 cents, lifting this particular account’s position to 1,549,895 shares.

Ms. McLeod-Seltzer is also the chair of Kinross Gold Corp. (K-T).

Ag Growth International Inc. (AFN-T)

Between March 18 -21, chair of the board Bill Lambert invested over $420,000 in shares of AGI. He purchased a total of 10,000 shares at a cost per share of $42.05 for an account in which he has indirect ownership (Dicot Holdings Ltd.), increasing this specific account’s holdings to 20,000 shares.

Year-to-date, the share price is up 39 per cent, led higher by strong earnings results and management’s positive outlook. In the company’s fourth-quarter earnings release issued on March 9, president and chief executive officer Tim Close remarked, “Our strong results in the fourth quarter contributed to a record year for 2021 with broad-based strength in Farm, AGI Digital, EMEA, India, and AGI Food. We see strong growth opportunities across all of our segments as demand for global food infrastructure remains robust. Backlogs sit at the highest level in our history, providing solid visibility for 2022.”

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Listed below are three securities that have had recent selling activity in the public market reported by insiders.

Energy Fuels Inc. (EFR-T)

Between March 17-23, director Dennis Higgs sold a total of 23,000 shares at an average price per share of approximately $12.18, reducing this particular account’s position to 271,546 shares. Proceeds from the sales totaled more than $280,000, not including trading fees.

Fortis Inc. (FTS-T)

Between March 8-16, executive vice-president – sustainability and chief human resource officer Nora Duke exercised her options, receiving a total of 42,060 shares at a cost per share of $37.30 and sold 42,060 shares at an average price per share of roughly $60.54 with 111,987 shares remaining in this particular account. Net proceeds totaled over $977,000, not including any associated transaction fees.

IGM Financial Inc. (IGM-T)

Between March 14-15, Barry McInerney exercised his options, receiving a total of 566,860 shares at an average cost per share of roughly $36.20, and sold 566,860 shares at an average price per share of approximately $45.40, eliminating his position in this specific account. Net proceeds exceeded $5.2-million, excluding any associated transaction charges.

Mr. McInerney is the president and chief executive officer of Mackenzie Investments. Mackenzie Financial Corp. is a subsidiary of IGM. On June 30, Mr. McInerney will be retiring and IGM Financial’s chief financial officer Luke Gould has been named as his successor. 

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