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Since my March 7 article titled "3 Energy Stocks With Recent Intensive Insider Buying", the stocks that I featured in the article have performed as follows:

CompanyPrice 3/7Price 4/12Change
Encana Corporation (NYSE:ECA)$19.02$19.53+2.7%
Pengrowth Energy Corporation (NYSE:PGH)$4.95$5.01+1.2%
Painted Pony Petroleum (OTCPK:PDPYF)$9.72$10.24+5.3%

In this article, I will feature two additional energy stocks and a gold miner that have seen intensive insider buying during the last 30 days. Intensive insider buying can be defined by the following three criteria:

  1. The stock is purchased by three or more insiders within one month.
  2. The stock is sold by no insiders in the month of intensive purchasing.
  3. At least two purchasers increase their holdings by more than 10%.

1. Superior Plus Corp. (OTC:SUUIF) engages in the energy services, specialty chemicals, and construction products businesses primarily in Canada and the United States.

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Insider buying by insider (last 30 days)

  • Wayne Bingham purchased 21,000 shares on March 27 pursuant to a public offering. Wayne Bingham currently holds 186,696 shares or 0.2% of the company. Wayne Bingham is Executive Vice President and Chief Financial Officer.
  • Luc Desjardins purchased 20,000 shares on March 27 pursuant to a public offering. Luc Desjardins currently controls 242,910 shares or 0.2% of the company. Luc Desjardins joined Superior Plus as President and Chief Executive Officer in 2011.
  • James MacDonald purchased 10,000 shares on March 27 pursuant to a public offering. James MacDonald currently holds 177,664 shares or 0.2% of the company. James MacDonald serves as a director of the company.
  • Thomas Smillie purchased 4,450 shares on April 8 and currently controls 4,450 shares or less than 0.1% of the company. Thomas Smillie is Vice-President, Finance.
  • Paul Timmons purchased 1,800 shares on March 27 pursuant to a public offering. Paul Timmons currently holds 16,933 shares or less than 0.1% of the company. Paul Timmons is President, Specialty Chemicals.
  • David Tims purchased 3,000 shares on March 27 pursuant to a public offering. David Tims currently holds 3,225 shares or less than 0.1% of the company. David Tims is President, Energy Supply and Oilfield.
  • Paul Vanderberg purchased 10,000 shares on March 27 pursuant to a public offering. Paul Vanderberg currently holds 62,810 shares or less than 0.1% of the company. Paul Vanderberg is President, Construction Products Distribution.

Insider buying by calendar month

Here is a table of Superior Plus' insider trading activity by calendar month.

MonthInsider buying / sharesInsider selling / shares
April 20134,4500
March 201365,8000
February 201300
January 201300

There have been 70,250 shares purchased and zero shares sold this year.

Financials

The company reported the full year 2012 financial results on February 14 with the following highlights:

Revenue$3.6 billion
Adjusted operating cash flow$193.5 million
Cash$24.2 million
Debt$1.2 billion

On March 27, 2013 Superior Plus announced the successful closing of the issue and sale of an aggregate of 12,960,500 common shares in the capital of the corporation at a price of $11.10 per common share. The net proceeds for the issue including the full exercise of the over-allotment option granted to the underwriters, issue costs and commissions are approximately $137 million.

Outlook

Superior expects 2013 adjusted operating cash flow per share of $1.65 to $1.95, consistent with the financial outlook provided at the third quarter of 2012.

Competition

Propane is sold in competition with other energy sources such as fuel oil, electricity and natural gas, some of which are less costly on an energy-equivalent basis. While propane is usually more cost-effective than electricity, electricity is a major competitor in most areas. Fuel oil is also used as a residential, commercial and industrial source of heat and, in general, is less costly on an equivalent-energy basis, although operating efficiencies, environmental and air quality factors help make propane competitive with fuel oil. Except for certain industrial and commercial applications, propane is generally not competitive with natural gas in areas where natural gas service exists. Other alternative energy sources such as compressed natural gas, methanol and ethanol are available or could be further developed and could have an impact on the propane industry in general and Canadian propane distribution in particular, in the future.

The trend towards increased conservation measures and technological advances in energy efficiency may have a detrimental effect on propane demand and Canadian propane distribution's sales. Demand for traditional propane end-use applications is increasing marginally with general economic growth. However, increases in the cost of propane encourage customers to reduce fuel consumption and to invest in more energy efficient equipment, reducing demand. Automotive propane demand is presently stabilizing after several years of decline but this trend could return depending upon propane pricing and the market acceptance of propane conversion options and the availability of infrastructure.

My analysis

There have been seven different insiders buying the shares and there have not been any insiders selling the shares during the last 30 days. There are two analyst buy ratings, two neutral ratings and zero sell ratings with an average target price of $12.50. The stock is trading at a P/E ratio of 15.04 and a forward P/E ratio of 11.56. The company has a book value of $3.40 per share and the stock has a dividend yield of 4.81%. The 200 day moving average is currently at $9.53, which could be a good entry point for the stock.

2. Klondex Mines (OTCQX:KLNDF) engages in acquisition, exploration, and development of mineral properties in Nevada.

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Insider buying by insider (last 30 days)

  • James Haggarty purchased 10,000 shares on April 2 and currently holds 40,420 shares or less than 0.1% of the company. James Haggarty serves as a director of the company.
  • Paul Andre Huet purchased 45,300 shares on April 3 and currently holds 298,660 shares or 0.5% of the company. Paul Andre Huet is President, Chief Executive Officer and Director.
  • Glenn Pountney purchased 257,100 shares on March 15 - April 3 and currently controls 7,702,000 shares or 12.0% of the company.
  • Michael Doolin purchased 500 shares on April 11 and currently holds 500 shares or less than 0.1% of the company. Michael Doolin is an insider of the company.

Insider buying by calendar month

Here is a table of Klondex Mines' insider trading activity by calendar month.

MonthInsider buying / sharesInsider selling / shares
April 201375,8000
March 2013287,1000
February 201339,1000
January 201336,7000

There have been 438,700 shares purchased and zero shares sold this year.

Financials

The company reported the full year 2012 financial results on March 27 with the following highlights:

Revenue$0
Net loss$4.6 million
Cash$18.1 million
Debt$12.4 million

On January 4, 2013, the company completed a private placement of senior unsecured notes due January 5, 2015 for aggregate gross proceeds of approximately $7 million.

Outlook

The company continues working towards transitioning its Fire Creek Project from an exploration stage to a development stage (including the bulk sampling) property then to a gold producing mine. The company's objective is to advance the Fire Creek Project through to production in the first quarter of 2015.

Upcoming milestones

(click to enlarge)Competition

The mining industry is competitive in all of its phases. Klondex faces strong competition from other mining companies in connection with the acquisition of properties producing, or capable of producing, base and precious metals. Many of these companies have greater financial resources, operational experience and technical capabilities than Klondex. As a result of this competition, Klondex may be unable to maintain or acquire attractive mining properties on terms acceptable to the company or at all. Consequently, Klondex's revenues, operations and financial condition could be materially adversely affected.

My analysis

There have been four different insiders buying the shares and there have not been any insiders selling the shares during the last 30 days. Klondex's directors and senior officers control 4.26% of the company. There are three analyst buy ratings, zero neutral ratings and zero sell ratings with an average target price of $4.53. The bulk sampling at Fire Creek is expected to start in the third quarter. The current resource estimate is 1.6M ozs Indicated and 458k ozs Inferred as of May 2011. The company is targeting an updated resource estimate by mid-2013. I have a long position in the stock currently.

3. Ithaca Energy (OTCPK:IACAF) engages in the exploration, development, and production of oil and gas in the United Kingdoms Continental Shelf.

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Insider buying by insider (last 30 days)

  • Graham Forbes purchased 15,000 shares on April 4 and currently holds 64,645 shares or less than 0.1% of the company. Graham Forbes is Chief Financial Officer.
  • Bradley Hurtubise purchased 25,000 shares on April 4 and currently holds 125,000 shares or less than 0.1% of the company. Bradley Hurtubise serves as a director of the company.
  • Jack Lee purchased 100,000 shares on April 4-12 and currently holds 800,000 shares or 0.3% of the company. Jack Lee is Non-Executive Chairman.
  • Iain McKendrick purchased 30,000 shares on April 4 and currently holds 205,465 shares or less than 0.1% of the company. Iain McKendrick is Chief Executive Officer.
  • John Summers purchased 40,000 shares on April 8 and currently holds 254,700 shares or 0.1% of the company. John Summers is Non-Executive Director.
  • John Woods purchased 20,000 shares on April 4 and currently holds 131,445 shares or less than 0.1% of the company. John Woods is Chief Development Officer.
  • Jay Zammit purchased 50,000 shares on April 4 and currently holds 498,332 shares or 0.2% of the company. Jay Zammit is Non-Executive Director.

Insider buying by calendar month

Here is a table of Ithaca Energy's insider trading activity by calendar month.

MonthInsider buying / sharesInsider selling / shares
April 2013280,0000
March 201300
February 201300
January 201300

The month of April has seen all of the insider buying.

Financials

The company reported the full year 2012 financial results on March 26 with the following highlights:

Revenue$170.5 million
Net income$93.4 million
Cash$31.4 million

Outlook

The company's outlook for 2013-2014 is as follows:

 201220132014
Production5.9 kboe/d14.0-16.2 kboe/d21.0-25.0 kboe/d
Cash flow per share$0.35$1.3$2.1

Competition

The oil and natural gas industry is intensely competitive. There is strong competition for the discovery and acquisition of properties considered to have commercial potential as well as for the contracting of equipment and the recruitment and retention of skilled personnel. Ithaca competes with a substantial number of other companies, many of whom have greater financial resources. Many such companies not only explore for and produce oil, natural gas and NGLs, but also carry on refining operations and market petroleum and other products on a world-wide basis. There is also competition between the petroleum industry and other industries supplying energy and fuel to industrial, commercial and individual customers.

My analysis

There have been seven different insiders buying the shares and there have not been any insiders selling the shares during the last 30 days. There are seven analyst buy ratings, one neutral rating and zero sell ratings with an average target price of $3.05. I believe the stock is a good pick from the current level based on the intensive insider buying.

Disclosure: I am long OTCQX:KLNDF, OTCPK:PDPYF. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Source: 2 Energy Stocks And A Gold Miner With Recent Intensive Insider Buying