Those following along with Equinox Gold Corp. (TSE:EQX) will no doubt be intrigued by the recent purchase of shares by Ross Beaty, Executive Chairman of the company, who spent a stonking CA$50m on stock at an average price of CA$8.51. Not only is that a big swing, but it increased their holding size by 44%, which is definitely great to see.
See our latest analysis for Equinox Gold
Equinox Gold Insider Transactions Over The Last Year
In fact, the recent purchase by Ross Beaty was the biggest purchase of Equinox Gold shares made by an insider individual in the last twelve months, according to our records. That means that even when the share price was higher than CA$7.99 (the recent price), an insider wanted to purchase shares. While their view may have changed since the purchase was made, this does at least suggest they have had confidence in the company's future. To us, it's very important to consider the price insiders pay for shares is very important. Generally speaking, it catches our eye when insiders have purchased shares at above current prices, as it suggests they believed the shares were worth buying, even at a higher price.
In the last twelve months Equinox Gold insiders were buying shares, but not selling. The chart below shows insider transactions (by individuals) over the last year. By clicking on the graph below, you can see the precise details of each insider transaction!
Equinox Gold is not the only stock that insiders are buying. For those who like to find winning investments this free list of growing companies with recent insider purchasing, could be just the ticket.
Insider Ownership of Equinox Gold
Another way to test the alignment between the leaders of a company and other shareholders is to look at how many shares they own. We usually like to see fairly high levels of insider ownership. Insiders own 6.8% of Equinox Gold shares, worth about CA$116m. While this is a strong but not outstanding level of insider ownership, it's enough to indicate some alignment between management and smaller shareholders.
So What Do The Equinox Gold Insider Transactions Indicate?
It's certainly positive to see the recent insider purchases. And the longer term insider transactions also give us confidence. But on the other hand, the company made a loss last year, which makes us a little cautious. Along with the high insider ownership, this analysis suggests that insiders are quite bullish about Equinox Gold. Looks promising! While we like knowing what's going on with the insider's ownership and transactions, we make sure to also consider what risks are facing a stock before making any investment decision. In terms of investment risks, we've identified 2 warning signs with Equinox Gold and understanding these should be part of your investment process.
Of course Equinox Gold may not be the best stock to buy. So you may wish to see this free collection of high quality companies.
For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions, but not derivative transactions.
If you spot an error that warrants correction, please contact the editor at editorial-team@simplywallst.com. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned.
We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Thank you for reading.
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Insider Buying: The Equinox Gold Corp. (TSE:EQX) Executive Chairman Just Bought US$50m Worth Of Shares - Yahoo Finance
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