The Canadian stocks on our list have seen notable insider buying during the past few months
SmallCapPower | August 10, 2020: Insiders are defined as company management or individuals or institutions that own more than 10% of a company’s shares. When insiders buy their Company’s stock it shows confidence in the future of its business. Today we have found two Canadian stocks with significant recent insider buying.
*Returns are based on closing stock prices as of August 7, 2020
Genesis Land Development Corp. (TSX:GDC) – $1.40
Genesis Land Development is a land developer and residential home builder in the Calgary Metropolitan Area. During its second-quarter of 2020, the Company saw its revenue surge to $30.7 million from $16.5 million during the same period last year, while cash flows from operating activities for the quarter were down just slightly to $7.0 million from $7.1 million a year earlier. On August 5, 20202 Garfield Mitchell, who has an ownership position in excess of 10%, purchased more than $1.8 million worth of GDC stock at a cost per share of $1.23.
Year-to-Date Return: – 38%
Anaconda Mining Inc. (TSX:ANX) – $0.61
Anaconda Mining has mining operations in the Baie Verte Mining District of Newfoundland, with 2020 production guidance of between 18,000 and 19,000 ounces of gold. Anaconda is also developing its high-grade Goldboro Gold project in Nova Scotia. The Company announced recently that it generated $5.8 million of cash flow from operating activities during the first half of 2020. In the past few months, three Company insiders bought a combined total of 200,000 shares either through the public market or option exercises.
Year-to-Date Return: 144%
Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.
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Genesis Land Development Corp. (TSX:GDC) – $1.40
Anaconda Mining Inc. (TSX:ANX) – $0.61
