In the U.S. insider trades are easily found on the SEC website, stock exchange websites, and financial aggregation sites. Not so in Canada. A search for insider trades for a Toronto-listed stock on Google will turn up financial aggregation websites, but they don’t have any data.
The TSX has more clean technology listings than any other exchange worldwide, many of which are truly international. I follow several, so I was thrilled when I came across CanadianInsider, where anyone can peruse recent insider trades for Canadian listed companies.
Of the 14 Canadian clean technology companies I own, here are the ones that have seen recent insider buying.
Company: Ram Power Corp.
Canadian Ticker: TSX:RPG
US Ticker: OTC:RAMPF
Business: Geothermal Power developer and operator with main projects in Nicaragua and the US.
Who’s Buying: Director Alistair Sinclair bought 1,100,000 shares at C$0.15 on June 18th.
Company: New Flyer Industries Inc.
Canadian Ticker: TSX:NFI
US Ticker: OTC:NFYEF
Business: The largest manufacturer of heavy-duty transit buses in North America.
Company: Alterra Power Corp.
Canadian Ticker: TSX:AXY
US Ticker: OTC:MGMXF
Business: Renewable Energy Developer and operator with a diversified portfolio of geothermal, run of river hydropower, wind and solar assets on three continents.
Who’s Buying: Executive Chairman and founder Ross Beaty bought 37.6 million shares at prices between C$0.29 and C$0.32 in April and June. He has hinted that he might buy the entire company if the stock price does not recover.
Canadian Tickers: TSX: RDZ and TSX:CSE
US Ticker: OTC: STWPF and OTC:MCQPF
Business: Canadian Renewable Energy and Clean infrastructure developer and operator Capstone is in the process acquiring smaller ReD in an all-share deal. Each ReD share will be worth 0.26 Capstone share.
Company: Innergex Renewable Energy, Inc.
Canadian Ticker: TSX:INE
US Ticker: OTC:INGXF
Business: Canadian power producer Innergex owns 23 run-of-river hydro plants, 5 wind farms, and one solar farm.
Insiders can be as bad at timing the market as anyone, but insider buying can be a useful indicator that the people in charge of the company think it’s undervalued.
Few insiders need to buy their own stock to get exposure to the company: Share and option grants are standard in most compensation packages. When you see insiders buying shares in the open market in addition to these grants, it’s often a good time to consider buying yourself.
Disclosure: I own all these stocks.
DISCLAIMER: Past performance is not a guarantee or a reliable indicator of future results. This article contains the current opinions of the author and such opinions are subject to change without notice. This article has been distributed for informational purposes only. Forecasts, estimates, and certain information contained herein should not be considered as investment advice or a recommendation of any particular security, strategy or investment product. Information contained herein has been obtained from sources believed to be reliable, but not guaranteed.
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