The Canadian stocks on our list have seen significant insider buying recently
SmallCapPower | June 18, 2020: Insiders are defined as company management or individuals or institutions that own more than 10% of a company’s shares. Today we have found three Canadian stocks with significant recent insider buying.
*Returns are based on closing stock prices as of June 17, 2020
Saputo Inc. (TSX:SAP) – $32.40
Saputo produces, markets, and distributes a wide array of dairy products, including cheese, fluid milk, extended shelf-life milk and cream products, cultured products, and dairy ingredients. The Company is the top dairy processor in Australia, and the second largest in Argentina. In the United States, Saputo ranks among the Top 3 cheese producers and is one of the largest producers of extended shelf-life and cultured dairy products. In the United Kingdom, Saputo is the largest manufacturer of branded cheese and a top manufacturer of dairy spreads. Saputo products are sold in several countries under market-leading brands, as well as private label brands. Between June 9 and June 12, 2020, three Company executives, including the CFO, each bought $100,000 or more worth of stock between $32 and $33 per share. SAP stock has a current yield of 2.1%.
- Year-to-Date Return: – 18%
Hudbay Minerals Inc. (TSX:HBM) – $3.83
Hudbay Minerals is an integrated mining company that engages in the production of copper concentrate, molybdenum concentrate, and zinc metals. The Company has assets in North and South America, and is focused on the discovery, production, and marketing of base and precious metals. The Company owns three polymetallic mines, four ore concentrators, copper projects, and a zinc production. Between June 10 and June 12, 2020, HBM insiders purchased more than 900,000 Company shares. This includes institutional investors, such as Canadian private equity firm Waterton Global Resource Management (which purchased 150,000 shares on top of the 1.25 million Hudbay shares it acquired between May 4 and May 15, 2020), and GMT Capital Corp, an Atlanta-based hedge fund with US$6B in assets under management, (which purchased 767,500 shares in addition to the ~1.05 million shares it bought on February 27, 2020). Hudbay Minerals stock has a current yield of 0.5%.
- Year-to-Date Return: – 28%
Geodrill Limited (TSX:GEO) – $1.58
Geodrill provides a broad selection of diverse drilling services, including exploration, delineation, underground and grade control drilling, to meet the specific needs of its clients in a variety of African jurisdictions. The Company operates a fleet of high performance multi-purpose rigs, which offer the versatility of being able to perform both reverse circulation and diamond core drilling. Geodrill’s client mix is made up of majors, intermediates and juniors that are exploring for gold and other minerals. Between June 4 and June 11, 2020, Sustainable Capital Ltd, a long-only African equity fund operating out of Mauritius, acquired more than 678,000 shares at a price of about $1.29 per share, in addition to the 500,000 shares it bought on April 28 at $1.35 per share.
- Year-to-Date Return: 10%
Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.
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