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A Canadian Natural Resources pump jack pumps oil out of the ground near Dorothy, Alta., in this file photo.

© Todd Korol / Reuters

On Tuesday, I reported 10 securities with recent insider trading activity. Today, the focus shifts to companies that insiders are selling.

Listed below are 10 companies that have experienced recent insider selling activities in the public market through their direct and indirect ownership positions.

Keep in mind, when looking at transaction activities by insiders, selling activity may or may not be related to a stock's valuation; perhaps an insider needs to raise money for personal reasons. Furthermore, 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 selling a company's shares.

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Alamos Gold Inc. (AGI-T)

On April 12, president and chief executive officer John McCluskey sold 10,000 shares at a price of $11.2332 per share. On April 5, he sold 15,000 shares at a price of $10.981 per share. After these transactions, his portfolio's position stood at 351,618 shares.

Aurora Cannabis Inc. (ACB-X)

On April 11, insider Dale Lesack, a production facilitator, sold 100,000 shares at a price of $3.48 per share, reducing his portfolio's position to 3,625,299 shares. The prior day, he sold 80,000 shares at a price of $3.23 per share.

Last week, we reported that chief cultivator Chris Mayerson has been actively trimming his holdings. So far this month, Mr. Mayerson sold 150,000 shares on April 10, 50,000 shares on April 7, 100,000 shares on April 6, 50,000 shares on April 4, and sold 100,000 shares on April 3. His portfolio position stood at over 2.1 million shares as at April 10.

B2Gold Corp. (BTO-T)

On April 4, president and chief executive officer Clive Johnson exercised his rights, increasing his holdings by 267,326 shares. The following week, on April 11, he sold 467,326 shares, trimming his portfolio's position down to 5,499,039 shares.

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On April 11, senior vice-president of operations Bill Lytle exercised his options and sold the corresponding number of shares, 268,000 shares, at a price of $3.85 per share that same day. His portfolio's position stood at 54,417 shares post this transaction.

Black Diamond Group Ltd. (BDI-T)

This month, Trevor Haynes, the company's chairman, president and chief executive officer, reported two relatively small transactions. On April 10, Mr. Haynes sold 10,000 shares at a price of $4.077 per share. On April 5, he sold 10,000 shares at a price of $3.88 per share.

Bonavista Energy Corp. (BNP-T)

On April 10, vice-president of exploration Wayne Merkel completed a relatively small transaction, selling 13,761 shares at a price of $3.46 per share. This reduced his portfolio's position to 115,985 shares.

Canadian Natural Resources Ltd. (CNQ-T)

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On April 11, senior vice-president of production Allan Frankiw sold 1,000 shares at a price of $45.50 per share, and sold the same number of shares on April 7 at a price of $45.14 per share.

Cominar Real Estate Investment Trust (CUF.UN-T)

Senior vice-president of finance and accounting Carl Pepin sold 10,000 units at a price of $14.57 per unit on April 10. This reduced his portfolio's position to 17,185 units.

Guyana Goldfields Inc. (GUY-T)

Daniel Noone, the vice-president of exploration and a board member, exercised his options for 200,000 shares on March 30. The following day, he sold 20,000 shares at a price of $7.05 per share and on April 11, he sold 10,000 shares at a price of $7.80 per share. His portfolio position stood at 598,200 shares after these reported transactions.

Last week, we reported founder and executive chairman Patrick Sheridan Jr. sold 49,000 shares at a price of $7.39 per share on April 6, reducing his portfolio's position to just over 4-million shares. On April 4, Mr. Sheridan trimmed his portfolio by 9,100 shares at a price of $7.39 per share.

Parex Resources Inc. (PXT-T)

Ron Miller, who sits on the board of directors, sold 43,945 shares at a price of $18 per share on April 13. The previous day, Mr. Miller sold 140,000 shares.

In addition, company president Dave Taylor, who will be assuming the role of president and chief executive officer when Wayne Foo retires, exercised 100,000 options on April 12 and sold the corresponding number of shares at a price of $17.99 per share the same day.

ZCL Composites Inc. (ZCL-T)

Darcy Morris, who sits on the board of directors, sold 14,500 shares at a price of $14.6558 per share on April 10. The previous week, on April 4, he sold 223,500 shares at a price of $14.2003 per share.

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About the Author
Equities analyst

Jennifer Dowty, CFA, is an equities analyst at The Globe and Mail. She has approximately 18 years of experience working in the financial industry, 14 of those years were at Manulife Asset Management, where she worked her way up to become an Equities Portfolio Manager. More

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