Blogs

After Canadian issuers buy back their shares in any given month, they have until the 10th day of the following month to file their buybacks in SEDI. At INK, we go through the filings after the deadline and compile a list of the top 100 issuers with buybacks for the previous month.

TD Bank had the most share buybacks in April

Below we present the top 5 from the April top 100 list.

In our most recent weekend Globe and Mail Who is Buying and Selling feature, we looked Advantage Energy (AAV) where a new director bought 40,000 shares on March 21st.

Insider chart from the May 7th Morning INK Report

Earlier in the week, we featured Advantage Energy along with Tourmaline Oil (TOU) for community members in the May 7th, 2024 Morning INK Report. If you are not a member, join us today to download and secure an edge with expanded data and report coverage on Canadian insider.

If North America hits an economic rough patch, the North American Utilities sector and its key commodities suppliers may offer places to hide.

Despite economic headwinds, Industrials insiders are buying

To build out capacity to service AI server farms, utilities will likely need more copper, uranium, and natural gas.

In our weekend Globe and Mail Who is Buying and Selling feature, we looked District Metals (DMX) where CEO Garrett Ainsworth has added to his already significant holdings by spending $37,509 to buy more shares in the public market over the past 180 days .

Garret Ainsworth insider filings table on Canadianinsider.com (click image for larger)

Earlier in the week, we featured District Metals for community members in the April 30, 2024 Morning INK Report. If you are not a member, join us today to download and secure an edge with expanded data and report coverage on Canadian insider.

In our late September Top Mining & Crypto Report, we made the case that the dollar was about to hit a dead end against its rivals including precious metals. While we were too optimistic about the prospects for the yen, the dollar has indeed fallen against other major currencies since the report, notably the Chinese renminbi and euro (yes it is true). On a composite basis, the broad dollar index has failed to move above its fall 2023 highs despite the weak yen. Most importantly, the dollar peaked against gold within days of our September report.

Anthony Blinken and Xi Jinping in Beijing

We continue to hear talk of an impending devaluation of the Chinese currency against the dollar. This would be a headwind for commodities and potentially gold. However, we expect China to resist devaluing its currency unless it is hit with tariffs against key exports by the European Union or the United States.

Canadian insider sentiment remains upbeat even as stocks rally led by oil patch names which have been outperforming mega-cap Apple (AAPL) since mid-July 2023.

Stocks tracked by the INK Canadian Insider Index are up 13.7% so far in 2024.

Now, copper producers are beating NVIDIA (NVDA) over the past 60 days.

In our weekend Globe and Mail Who is Buying and Selling feature, we looked  Firan Technology Group (FTG) where insiders have spent $266,213 buying shares in the public market over the past 90 days.  We most recently featured the stock for community members in the April 24, 2024 Morning INK Report.

Firan Technology Group insider chart from the April 26, 2024 INK Research morning report.

The share price of the aerospace and defence electronics supplier has been descending recently, and in the report we identify one possible reason why. Insiders are buying, however.

The Market INK Report kicked off April noting that many investors had expected 2024 to be a year dominated by AI. However, geopolitics and commodity scarcity have emerged as key forces shaping returns year-to-date. That has turned out to be good news for insiders who have been buying copper, gold, and energy names for some time.

Canadian stocks preferred by insiders have enjoyed double-digit returns so far in 2024

It pays to let the insiders guide you. Year-to-date, the INK Canadian Insider Index which tracks 50 TSX-listed stocks preferred by insiders has advanced 12.22% as of April 23rd, thanks to its 49% weighting to the Energy and Basic Materials sectors. You can read more about insider sentiment trends and stocks with insider activity in our early April Market INK Report.

In our weekend Globe and Mail Who is Buying and Selling feature, we returned to the gold mining group, this time with a peak at Guyana. At the end of March, a clip of President Irfaan Ali went viral. It featured his spirited defence of Guyana's climate and resource policies in a BBC interview with Stephen Sackur.

Guyana President Irfaan Ali on BBC Hardtalk March 29, 2024

The discussion centred around oil & gas, but the President is also an advocate of mining, according to Omai Gold Mines (OMG), a stock we featured in the April 12, 2024 Morning INK Report.