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Friday’s Insider Report: Director Makes $2.4 Million From This Stock That Will Double By 2024

Listed below are companies that have recently experienced insider trading in the public markets through their direct and indirect holdings, including accounts over which they have control or control.

The list includes insider transactions; it does not reflect complete ownership information as an insider may have multiple accounts.

Keep in mind that when looking at insider trading activity, purchasing activity may reflect the perceived value of 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. An insider’s total ownership must be taken into account because a sale may be insignificant in context if that person has a large remaining position in the company. I tend to put a lot of stock in insider transactions when I see multiple insiders trading a company’s shares or units.

The following four stocks have seen recent selling activity in the public market, reported by insiders.

Franco Nevada Corp. (FNV-T)

On May 30, Director, President and CEO Paul Brink exercised his options, receiving 13,076 shares at a cost per share of $59.52, and selling 13,076 shares at a price per share of $170.2091. Net proceeds exceeded $1.4 million, excluding any associated transaction costs. After these transactions, this specific account contained 239,700 shares.

We previously reported that director Catharine Farrow exercised her options on May 22 and received 20,000 shares at a cost per share of $58.67, and sold 20,000 shares at a price per share of $171.7781. Net proceeds exceeded $2.2 million, excluding any associated transaction costs. After these transactions, this specific account contained 301 shares.

Eldorado Gold Corp. (ELD-T)

On May 29, Joe Dick sold 47,000 shares at a price per share of US$15.9994, leaving 135,445 shares in this account. Proceeds from the sale exceeded US$751,000, excluding commission costs.

This year, Mr. Dick retired from his position as Chief Operating Officer of the company.

Sprott Inc. (SII-T)

Between May 17 and May 29, Sprott Asset Management CEO John Ciampaglia sold a total of 65,028 shares at an average price per share of approximately $62.70, while 135,000 shares remained in this particular account. Proceeds from the sale totaled more than $4 million, excluding trading costs.

Taseko Mines Ltd. (TKO-T)

Between May 17 and 28, director Robert Dickinson sold a total of 600,000 shares at an average price per share of approximately $4.01 across two accounts, eliminating his position in one account and leaving 1 million shares in another account (RRSP). Proceeds from the sale exceeded $2.4 million, excluding commission costs.

Since the beginning of the year, the share price has doubled in value, with an increase of 105 percent.

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