Tuesday’s Insider Report: Business mogul Eric Sprott acquires shares in this stock that’s up 61% in 2024

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 is a security that has had recent buying activity in the public market reported by an insider.

Jaguar Mining Inc. (JAG-T)

Between June 21 and July 3, Eric Sprott, with an ownership position exceeding 10 per cent, bought a total of 311,700 shares at an average price per share of approximately $2.44 for an account in which he has indirect ownership (2176423 Ontario Ltd.), increasing the holdings in this specific account to 30,383,104 shares. The cost of these purchases exceeded $761,000.

Over the past few years, the share price has been in a downtrend, falling from over $10 in February 2021 to under $2 by the end of 2023. This year, the stock is making a comeback, rising 61 per cent year-to-date.

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The following three stocks have had recent selling activity in the public market reported by insiders.

Cargojet Inc. (CJT-T)

Between June 24-28, founder and executive chairman Ajay Virmani sold a total of 8,472 shares at an average price per share of roughly $139.78 with 2,500 shares remaining in this particular account. Proceeds from the sales totaled more than $1.1 million, excluding trading fees.

Galaxy Digital Holdings Ltd. (GLXY-T)

On June 28, president and chief investment officer Christopher Ferraro sold 17,700 shares at an average price per share of approximately $16.67, after which this specific account held 799,056 shares. Proceeds from the sale exceeded $295,000, excluding trading fees.

Secure Energy Services Inc. (SES-T)

On June 28, general counsel and corporate secretary Michael Callihoo divested 12,000 shares at a price per share of $12.10, leaving 65,465 shares in this particular account. Proceeds from the sale exceeded $145,000, not including trading fees.

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