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 is a stock that has had recent buying activity reported by an insider.
Chesapeake Gold Corp. (CKG-X)
On Sept. 8, billionaire businessman Eric Sprott, with an ownership position exceeding 10 per cent, bought 169,300 shares at a price per share of $6.5811 for an account in which he has indirect ownership (2176423 Ontario Ltd.). The cost of this investment exceeded $1.1-million.
Year-to-date, the share price is up 84 per cent.
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Listed below are three stocks that have had selling activity reported by insiders.
Alimentation Couche-Tard Inc. (ATD.B-T)
Between Sept. 15-18, Richard Fortin sold a total of 79,000 shares at an average price per share of roughly $44.40, trimming this particular account’s position to 677,200 shares. Proceeds from the sales, not including commission charges, exceeded $3.5-million.
Mr. Fortin currently sits on the company’s board of directors. He is a co-founder and the company’s former chief financial officer and chairman.
Ero Copper Corp. (ERO-T)
Jonathan Singh, vice-president of finance, divested a total of 10,000 shares (5,000 shares on Sept. 15 and 5,000 shares on Sept. 18) for an account in which he has indirect ownership, leaving 10,000 shares in this specific account. Selling prices were not disclosed; however, based on the lowest trading prices on these days ($19.40 was the low on Sept. 15 and $19.28 was the low on Sept. 18), proceeds from the sales would have totaled at least $193,000 (excluding commission charges).
Lundin Mining Corp. (LUN-T)
On Sept. 9-10, chief financial officer Jinhee Magie exercised her options, receiving 44,000 shares at a cost per share of $4.32, and sold 44,000 shares at a price per share of $8.33, leaving 220,000 shares in this specific account. Net proceeds totaled over $176,000, not including any associated transaction fees.
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Jennifer Dowty