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.
The following four stocks have had recent selling activity in the public market reported by insiders.
Franco-Nevada Corp. (FNV-T)
On May 30, director, president and chief executive officer Paul Brink exercised his options, receiving 13,076 shares at a cost per share of $59.52, and sold 13,076 shares at a price per share of $170.2091. Net proceeds exceeded $1.4 million, excluding any associated transaction fees. After these transactions, this particular account held 239,700 shares.
Previously, we reported that director Catharine Farrow exercised her options on May 22, receiving 20,000 shares at a cost per share of $58.67, and sold 20,000 shares at a price per share of $171.7781. Net proceeds exceeded $2.2-million, excluding any associated transaction charges. After these transactions, this specific account held 301 shares.
Eldorado Gold Corp. (ELD-T)
On May 29, Joe Dick divested 47,000 shares at a price per share of U.S. $15.9994, after which 135,445 shares remained in this particular account. Proceeds from the sale exceeded U.S. $751,000, excluding commission charges.
This year, Mr. Dick retired from his position as the company’s chief operating officer.
Sprott Inc. (SII-T)
Between May 17-29, chief executive officer of Sprott Asset Management John Ciampaglia sold a total of 65,028 shares at an average price per share of approximately $62.70 with 135,000 shares remaining in this particular account. Proceeds from the sales totaled more than $4 million, not including trading fees.
Taseko Mines Ltd. (TKO-T)
Between May 17-28, director Robert Dickinson sold a total of 600,000 shares at an average price per share of approximately $4.01 for two accounts, eliminating his position in one account and leaving 1 million shares in a different account (RRSP). Proceeds from the sales exceeded $2.4 million, excluding commission charges.
Year-to-date, the share price has doubled in value, rising 105 per cent.
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Jennifer Dowty