Headwater Exploration Ownership

Who are the major shareholders and have insiders been buying or selling?

Recent Insider Transactions

TSX:HWX Recent Insider Transactions by Companies or Individuals
Date	Value	Name	Entity	Role	Shares	Max Price
18 Sep 25	SellCA$162,029	Chandra Henry	Individual		20,907	CA$7.75
05 May 25	BuyCA$114,858	Jason Jaskela	Individual		20,000	CA$5.74

Insider Trading Volume

Insider Buying: HWX insiders have only sold shares in the past 3 months.

Ownership Breakdown

What is the ownership structure of HWX?
Owner Type	Number of Shares	Ownership Percentage
Individual Insiders	15,926,561	6.7%
Institutions	74,021,815	31.1%
General Public	147,814,501	62.2%

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Top Shareholders

Top 25 shareholders own 34.69% of the company

Ownership	Name	Shares	Current Value	Change %	Portfolio %
10%	Canoe Financial LP	23,878,785	CA$184.1m	39.2%	1.31%
3.32%	Franklin Resources, Inc.	7,890,799	CA$60.8m	-1.1%	0.01%
2.27%	Dimensional Fund Advisors LP	5,386,095	CA$41.5m	0.37%	no data
2.15%	Capital Research and Management Company	5,105,000	CA$39.4m	0%	no data
1.64%	1832 Asset Management L.P.	3,889,700	CA$30.0m	0%	0.03%
1.6%	Neil Roszell	3,815,663	CA$29.4m	0%	no data
1.53%	BlackRock, Inc.	3,628,684	CA$28.0m	-0.68%	no data
1.34%	Kevin Olson	3,179,379	CA$24.5m	0%	no data
1.32%	Victory Capital Management Inc.	3,138,479	CA$24.2m	-3.31%	0.01%
1.3%	American Century Investment Management Inc	3,098,498	CA$23.9m	18.3%	0.01%
1.3%	CI Global Asset Management	3,096,306	CA$23.9m	-0.01%	0.03%
1.21%	Industrielle Alliance, Gestion de placements inc.	2,867,560	CA$22.1m	0%	0.12%
0.85%	Jason Jaskela	2,032,226	CA$15.7m	0.99%	no data
0.61%	Terry Danku	1,461,399	CA$11.3m	0%	no data
0.49%	AGF Management Limited	1,154,829	CA$8.9m	53%	0.03%
0.45%	Ninepoint Partners LP	1,075,000	CA$8.3m	0%	0.43%
0.43%	Alexandra Horvath	1,015,287	CA$7.8m	0%	no data
0.43%	Brad Christman	1,010,810	CA$7.8m	0%	no data
0.39%	Stephen Larke	922,669	CA$7.1m	0%	no data
0.38%	David Pearce	906,956	CA$7.0m	0%	no data
0.38%	Connor, Clark & Lunn Investment Management Ltd.	903,438	CA$7.0m	-45.5%	0.02%
0.37%	BMO Asset Management Corp.	877,213	CA$6.8m	3.45%	no data
0.34%	RBC Global Asset Management Inc.	802,881	CA$6.2m	-50%	no data
0.28%	Mackenzie Financial Corporation	674,122	CA$5.2m	0.73%	no data
0.28%	Scott Rideout	664,200	CA$5.1m	0%	no data

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2025/10/07 11:53
End of Day Share Price	2025/10/07 00:00
Earnings	2025/06/30
Annual Earnings	2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Headwater Exploration Inc. is covered by 24 analysts. 4 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Laique Ahmad Amir Arif	ATB Capital Markets
Patrick O'Rourke	ATB Capital Markets
Kuno Ryckborst	Beacon Securities Limited