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 or perhaps shares may be sold to address tax implications when options and rights are exercised. 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. In addition, I tend to put great weight on insider transaction activity when I see multiple insiders trading a company’s shares or units. Furthermore, it can be of value to note if an insider’s share or unit balance (investment in the company) is trending higher or lower.
Listed below are three stocks that have had recent buying activity in the public market reported by insiders.
Assante Gold Corp. (ASE-CN)
Between Jan. 8-28, executive chairman Malik Easah invested more than $788,000 in shares of the company. He purchased a total of 827,700 shares at an average price per share of approximately 95 cents for an account in which he has indirect ownership (Savanah Mining), increasing the holdings in this particular account to 8,164,600 shares.
Gear Energy Ltd. (GXE-T)
On Jan. 27, director Don Gray acquired 1,953,000 shares at a price per share of 50 cents, after which this specific account held 10,548,480 shares. The cost of this investment totaled over $976,000.
Mr. Gray is the co-founder and former president and chief executive officer of Peyto Exploration & Development Corp.
In a news release issued by the company on Feb. 5, Gear announced that it expects shares to be delisted from the Toronto Stock Exchange, and a newly formed spin-out company called Lotus Creek Exploration Inc. is expected to begin trading on the TSX Venture Exchange.
On Dec. 2, 2024, Gear Energy said it entered into an agreement with a large publicly traded company whereby the purchaser will acquire all of the issued and outstanding common shares of Gear, excluding its central Alberta, southeast Saskatchewan, and Tucker Lake properties which will be transferred to a newly formed entity for $110 million in cash, subject to adjustments as provided for in the agreement.
Tourmaline Oil Corp. (TOU-T)
Between Jan. 27 – Feb. 6, founder, chairman, president and chief executive officer Mike Rose bought a total of 5,000 shares at an average cost per share of approximately $66.35 for an account in which he has control or direction over (Rose Foundation), lifting the holdings in this specific account to 1,412,500 shares. The cost of these purchases exceeded $331,000.
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The following stock has had recent selling activity in the public market reported by multiple insiders.
Canadian Natural Resources Ltd. (CNQ-T)
On Feb. 3, senior vice-president, thermal Warren Raczynski exercised his options, receiving 7,500 shares at a cost per share of $10.38, and sold 7,500 shares at a price per share of $43.70, after which 34,473 shares remained in this particular account. Net proceeds totaled approximately $250,000, excluding any associated transaction charges.
On Jan. 31, chief commercial and corporate development officer Ron Laing exercised his options, receiving 19,000 shares at a cost per share of $19.35, and sold 19,000 shares at a price per share of $45.02 with 8,445 shares remaining in this particular account. Net proceeds exceeded $487,000, not including any associated transaction charges.
Between Jan. 6-30, senior vice-president, exploitation Devin Lowe exercised his options, receiving a total of 15,000 shares at an average cost per share of approximately $14.87, and sold 15,000 shares at an average price per share of roughly $45.64, after which this particular account held 25,980 shares. Net proceeds exceeded $461,000, excluding any associated transaction fees.