Wednesday’s Insider Report: Large shareholder invests over $3-million in this stock yielding 5.3%

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 recent buying activity in the public market reported by insiders.

Knight Therapeutics Inc. (GUD-T)

Between March 27-29, Sime Armoyan, with an ownership position exceeding 10 per cent, acquired a total of 805,100 shares at an average cost per share of approximately $4.36 for an account in which she has control or direction over (Armco Alberta Inc.), increasing this particular account’s position to 12,006,400 shares. The cost of these purchases exceeded $3.5-million.

Westshore Terminals Investment Corp. (WTE-T)

Between March 24-31, businessman Jimmy Pattison, with an ownership position exceeding 10 per cent, invested over $3.5-million in shares of Westshore. He bought a total of 134,000 shares at an average cost per share of roughly $26.67 for an account in which he has indirect ownership (Great Pacific Capital Corp.), after which this particular account held 16,402,232 shares.

Between March 27-29, Brian Canfield, who sits on the board of directors, acquired a total of 8,000 shares at an average price per share of approximately $26.75, raising this specific account’s holdings to 25,100 shares. The cost of these purchases exceeded $213,000.

Westshore pays its shareholders a quarterly dividend of 35 cents per share or $1.40 per share yearly, equating to a current annualized dividend yield of 5.3 per cent. Last month, the company announced it is raising its first quarter dividend payable in April by 17 per cent to 35 cents per share from 30 cents per share.

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Listed below are two gold stocks that have had recent selling activity in the public market reported by insiders.

Alamos Gold Inc. (AGI-T)

Between March 15-29 chief financial officer Jamie Porter exercised his options, receiving a total of 278,529 shares at an average cost per share of roughly $7.60, and sold 278,529 shares at an average price per share of approximately $15.59 leaving 129,780 shares in this specific account. Net proceeds exceeded $2.2-million, not including any associated transaction charges.

Between March 23-31, senior vice-president - technical services Chris Bostwick exercised his options, receiving a total of 125,274 shares at an average cost per share of roughly $7.69, and sold 125,274 shares at an average price per share of approximately $15.98, after which this specific account held 70,627 shares. Net proceeds totaled over $1-million, excluding any associated transaction fees.

Between March 17-29, senior vice-president – general counsel Nils Engelstad exercised his options, receiving a total of 55,000 shares at an average cost per share of roughly $7.41, and sold 55,000 shares at an average price per share of approximately $16.20. Net proceeds totaled over $483,000, excluding any associated transaction fees.

In addition, on March 28, Mr. Engelstad divested 6,152 shares at a price per share of $16.13 with proceeds from the sale totaling over $99,000. After these transactions, this particular account held 19,001 shares.

Orla Mining Ltd. (OLA-T)

Between March 21-31, chief financial officer Etienne Morin exercised his options, receiving a total of 259,292 shares at a cost per share of $1.25, and sold 259,292 shares at an average price per share of approximately $6.46 with 224,275 shares remaining in this specific account. Net proceeds exceeded $1.3-million, not including any associated transaction charges.

On March 28, president and chief executive officer Jason Simpson exercised his options, receiving 250,000 shares at a cost per share of $1.30 and sold 250,000 shares at $6.4835 with 1,312,036 shares remaining in this particular account. Net proceeds totaled nearly $1.3-million, excluding any associated transaction fees.  

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