What A Joke – Pretivm Initiates Inquiry Into Trading Of Its Shares


PRETIVM INITIATES INQUIRY INTO TRADING OF ITS SHARES

 

 

 

January 11, 2019
Dudley Pierce Baker
Founder – Editor
http://JuniorMiningNews.com
http://CommonStockWarrants.com

Today I saw this press release from Pretium Resources

01/10/2019

VANCOUVER, British Columbia, Jan. 10, 2019 (GLOBE NEWSWIRE) — Pretium Resources Inc. (TSX/NYSE:PVG) (“Pretivm” or the “Company”) reports that it has retained independent legal counsel to initiate an investigation of unusual trading activity in its shares.

About Pretivm

Pretivm is a low-cost intermediate gold producer with the high-grade underground Brucejack Mine in northern British Columbia

For further information contact:
Joseph Ovsenek                    Troy Shultz
President & CEO                    Manager, Investor Relations & Corporate Communications

Pretium Resources Inc.
Suite 2300, Four Bentall Centre, 1055 Dunsmuir Street
PO Box 49334 Vancouver, BC V7X 1L4
(604) 558-1784
invest@pretivm.com
(SEDAR filings: Pretium Resources Inc.)

_________________________________________________________________________

So, what is really going on?

This is not rocket science. Insiders (officers and directors) have been selling shares in PVG from May 17, 2018 through December 24, 2018.

8 insiders, all sellers in the open market have reported to authorities and via my subscription to INKResearch.com, I see it all.

Perhaps PVG does not need an attorney to investigate trading activity, just ask their own officers and directors why ‘they’ are selling.

Total shares valued at C$9,178,605 have been sold from May 17 – Dec 24, 2018.

Sellers are:
Ovsenek J.J.        –  President & CEO
Smith, D.               – Director
Paspalas, G.N.      – Lead Director
McNaughton, K.C. – VP & Chief Exploration Officer
Vip, T.                     – Executive, VP & CFO
Romero, M.A.         – Executive VP and Corporate Affairs & Sustainability
Quartermain, R.A.  – Executive Chairman
Board, W.               – VP, Geology & Chief Geologist

From my personal experience, when 1 or 2 insiders are selling, I don’t get too alarmed. But, when you have 8 insiders selling as in this situation, well, to me, something is going on (news) that has not yet been reported by the company. (Only time will tell)

I have never personally owned shares in PVG and do not have a short position, but I keep my eyes are hundreds of companies and the insider activity. I saw this selling going on a couple of months ago and thought about an article at that time. But with today’s press release I just had to do something.

Interesting to me that the press release above, stated for additional information contact,
Joseph Ovsenek, President & CEO.

Mr. Ovsenek is one of the insiders selling a total of 160,175 shares.

 I have always enjoyed following the insider trading activity on all of my personal positions and other high profile companies, like PVG.

Many times, insider buying can alert us to great opportunities and in this situation, insider selling at a minimum, must be a big caution flag, if not, an out right sell signal.

I am sure this article will get a lot of views and responses, but folks, it is what it is and I am only the messenger.

If you would like to know more about my services, visit the links above.

Stay alert…..

     

Morning INK :: CP CEO sold stock after lauding share buyback program (CP)

Note from Dudley Pierce Baker
I have maintained a subscription to INKResearch.com for many years allowing me to track insider trading in Canada and the U.S. markets. This is a general market comment from INK and I thought worthy of sharing with you.

INK Research

MORNING INK REPORT :: CP CEO sold stock after lauding share buyback program
January 3, 2019

Yesterday, we highlighted insider selling at Canadian National Railway (Cloudy; CNR) and said that it did not give us any comfort regarding the potential for railway stocks to avoid getting hit by economic slowdown fears. Today, we visit Canadian Pacific Railway where CEO activity gives us the outright chills about the outlook for the stock.

On October 17th, Canadian Pacific Railway (CP) announced its intention to launch a share repurchase program. In the accompanying press release, CEO Keith Creel said, “With the new share repurchase program, we are renewing our commitment to return cash to shareholders in a disciplined, opportunistic manner”. The TSX accepted the company’s notice for the buyback program two days later. In the following month, Mr. Creel sold $16.5 million in company shares after exercising options.

Generally, we have a hard time with the idea that it is in the best interest of shareholders to use cash to buyback shares when the stock is soaring near all-time highs and debt lingers on the balance sheet. When such buybacks are accompanied by insider selling, we view it as a negative sign. When one of those insiders selling is also a board member, it is a bigger negative. This is the type of behavior and attitudes we tend to see in frothy and toppy environments. Sometimes those tops take a long time to form. In this case, we will stick our necks out and suggest the top for CP stock is probably in for a long time.

Canadian Pacific Railway (CP)

Characteristics
Buys (000’s) Sells (000’s)
SEDI Market Volume (Last 10 Days) 2,000 0
Quoted Market Value $34,649,478,339
Insider Holdings $13,602,580
Holdings % of QMV 0.04%

On November 8th, Canadian Pacific Railways (CP) CEO Keith Creel exercised 60,000 Options at an exercise price of $115.78 and sold the same number of Common Shares in the public market at an average price of $275.23. The CEO currently holds 88 Common Shares on a direct holdings basis, and 2,322 Common Shares on an indirect holdings basis.

Also on November 8th, the company repurchased 40,000 Common Shares at $275.01. Since October 19th, Canadian Pacific Railway has reported repurchasing 1,222,200 Common Shares at an average price of $268.12.

The stock currently holds a cloudy INK Edge outlook on the equally weighted V.I.P. criteria of valuations, insider commitment and price momentum which places it in the bottom 30% of all stocks ranked. INK outlook categories are designed to identify groups of stocks that have the potential to out- or under-perform the market. However, any individual stock could surprise on the up or downside. As such, outlook categories are not meant to be stock-specific recommendations.

INSIDER FILING TRENDS (SEDI DATA)
Number of TSX Companies with Sell/Buy Filings
Number of Venture Companies with Marker Trades
LEADERS
Last Trading Day’s TSX Most Active (January 2, 2019)
Issuer Name Symbol Trading
Volume
(000’s)
Insiders
90-Day
Executive Bias
Barrick Gold ABX 46,929 Buying
Aurora Cannabis ACB 9,813 Selling
Bombardier BBD.B 8,877 N/A
Aphria APHA 8,225 Buying
ProMetic Life Sciences PLI 6,808 Buying
Baytex Energy BTE 5,579 Buying
Encana ECA 5,546 Buying
Kinross Gold K 5,178 N/A
Manulife Financial MFC 4,945 Buying
Enbridge ENB 4,442 Buying
Last Trading Day’s Venture Most Active (January 2, 2019)
Issuer Name Symbol Trading
Volume
(000’s)
Insiders
90-Day
Executive Bias
Namaste Technologies N 7,891 Selling
Kalytera Therapeutics KALY 4,284 N/A
Auxly Cannabis Group XLY 2,948 N/A
Sokoman Iron SIC 2,437 Buying
CUV Ventures CUV 2,050 N/A
Rio2 RIO 1,901 Buying
OrganiGram Holdings OGI 1,746 Buying
HIVE Blockchain Tech HIVE 1,733 N/A
Adamera Minerals ADZ 1,724 Selling
CardioComm Solutions EKG 1,481 Buying
Last Trading Day’s TSX Price Gainers (January 2, 2019)
Issuer Name Symbol D/D Gain Insiders
90-Day
Executive Bias
E-L Financial ELF $16.94 Buying
Canadian Tire CTC $11.90 Buying
Fairfax Financial Holding FFH $3.06 Buying
Canopy Growth WEED $2.67 Buying
Bausch Health Companies BHC $2.22 Selling
goeasy GSY $2.16 Buying
Senvest Capital SEC $1.99 N/A
Methanex MX $1.98 N/A
TransCanada TRP $1.66 Selling
Equitable Group EQB $1.65 N/A
LEADERS (CONT.)
Last Trading Day’s Venture Price Gainers (January 2, 2019)
Issuer Name Symbol D/D Gain Insiders
90-Day
Executive Bias
Shaw Communications SJR.A $2.70 Selling
OrganiGram Holdings OGI $0.83 Buying
Cobalt 27 Capital KBLT $0.50 Buying
Galaxy Digital Holdings GLXY $0.40 Buying
Abitibi Royalties RZZ $0.32 Buying
Emerald Health Therapeuti EMH $0.27 N/A
Namaste Technologies N $0.24 Selling
Questor Technology QST $0.24 Buying
DiaMedica Therapeutics DMA $0.20 N/A
Millennial Lithium ML $0.20 Buying
Last Trading Day’s TSX Price Losers (January 2, 2019)
Issuer Name Symbol D/D Loss Insiders
90-Day
Executive Bias
Constellation Software CSU 23.15 Selling
Boyd Group Income Fund BYD.UN 3.05 Selling
Morguard MRC 3.01 N/A
FirstService FSV 2.57 Selling
Restaurant Brands Intl LP QSP.UN 2.23 N/A
Shopify SHOP 1.68 Selling
Restaurant Brands Intl QSR 1.56 Buying
Linamar LNR 1.44 Buying
Nutrien NTR 1.34 Buying
Thomson Reuters TRI 1.33 Selling
Last Trading Day’s Venture Price Losers (January 2, 2019)
Issuer Name Symbol D/D Loss Insiders
90-Day
Executive Bias
XPEL DAP.U 0.30 N/A
People Corp PEO 0.29 Selling
Frankly TLK 0.25 N/A
Jemtec JTC 0.19 N/A
SilverCrest Metals SIL 0.18 Buying
Candelaria Mining CAND 0.14 N/A
Probe Metals PRB 0.10 Buying
Novo Resources NVO 0.10 N/A
Pacific Booker Minerals BKM 0.10 Selling
Eastwood Bio-Medical Ca EBM 0.10 N/A
LEADERS (CONT.)
Last Trading Day’s TSX Percentage Gainers (January 2, 2019)
Issuer Name Symbol D/D %Gain Insiders
90-Day
Executive Bias
First Mining Gold FF 42.86% Buying
ProMetic Life Sciences PLI 37.25% Buying
Granite Oil GXO 23.64% Buying
Profound Medical PRN 21.82% Buying
Faircourt Split Trust FCS.UN 21.53% N/A
Real Matters REAL 20.00% N/A
Fortune Minerals FT 20.00% Buying
Obsidian Energy OBE 17.65% Buying
TriMetals Mining TMI.B 15.38% N/A
Aptose Biosciences APS 15.38% Buying
Last Trading Day’s Venture Percentage Gainers (January 2, 2019)
Issuer Name Symbol D/D %Gain Insiders
90-Day
Executive Bias
Mazarin MAZ.H 69.23% N/A
DeepMarkit MKT 50.00% N/A
Volcanic Gold Mines VG 50.00% Buying
Galaxy Digital Holdings GLXY 40.00% Buying
Aftermath Silver AAG.H 38.46% N/A
Mammoth Resources MTH 33.33% N/A
AurCrest Gold AGO 33.33% Selling
Nortec Minerals NVT 33.33% N/A
Stans Energy HRE 33.33% Buying
Pure Energy Minerals PE 33.33% N/A
Last Trading Day’s TSX Percentage Losers (January 2, 2019)
Issuer Name Symbol D/D %Loss Insiders
90-Day
Executive Bias
Aberdeen International AAB -16.67% N/A
exactEarth XCT -13.46% N/A
DXI Energy DXI -12.50% N/A
SOPerior Fertilizer SOP -12.50% Buying
Xtra-Gold Resources XTG -10.47% N/A
Brompton Oil Split OSP -10.46% Buying
ENTREC ENT -9.68% Buying
Posera PAY -9.52% N/A
Scandium Int’l Mining SCY -9.52% N/A
Dundee DC.A -9.38% N/A
LEADERS (CONT.)
Last Trading Day’s Venture Percentage Losers (January 2, 2019)
Issuer Name Symbol D/D %Loss Insiders
90-Day
Executive Bias
True North Gems TGX -60.00% N/A
TVI Pacific TVI -50.00% N/A
Waterfront Capital WFG.H -33.33% N/A
Quinto Resources QIT -28.57% N/A
Volt Energy VOLT -28.57% N/A
Strategic Oil & Gas SOG -25.00% N/A
Candelaria Mining CAND -23.73% N/A
High Mountain Capital BUZD.P -23.53% N/A
BTU Metals BTU -21.74% Buying
Toachi Mining TIM -21.05% N/A
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