It is usually uneventful when a single insider buys stock. However, When quite a few insiders buy shares, as it happened in Calibre Mining Corp.'s (TSE:CXB) case, it's fantastic news for shareholders.
Although we don't think shareholders should simply follow insider transactions, we do think it is perfectly logical to keep tabs on what insiders are doing.
Check out our latest analysis for Calibre Mining
Calibre Mining Insider Transactions Over The Last Year
In the last twelve months, the biggest single purchase by an insider was when President Darren Hall bought CA$182k worth of shares at a price of CA$1.21 per share. So it's clear an insider wanted to buy, even at a higher price than the current share price (being CA$0.84). Their view may have changed since then, but at least it shows they felt optimistic at the time. In our view, the price an insider pays 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 total, Calibre Mining insiders bought more than they sold over the last year. The average buy price was around CA$1.01. I'd consider this a positive as it suggests insiders see value at around the current price. You can see the insider transactions (by companies and individuals) over the last year depicted in the chart below. If you want to know exactly who sold, for how much, and when, simply click on the graph below!
Calibre Mining 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.
Insiders At Calibre Mining Have Bought Stock Recently
Over the last three months, we've seen significantly more insider buying, than insider selling, at Calibre Mining. Insiders spent CA$201k on shares. But President Darren Hall sold shares worth CA$64.2. Insiders have spent more buying shares than they have selling, so on balance we think they are are probably optimistic.
Insider Ownership Of Calibre Mining
I like to look at how many shares insiders own in a company, to help inform my view of how aligned they are with insiders. I reckon it's a good sign if insiders own a significant number of shares in the company. From our data, it seems that Calibre Mining insiders own 3.2% of the company, worth about CA$12m. Whilst better than nothing, we're not overly impressed by these holdings.
So What Do The Calibre Mining Insider Transactions Indicate?
The recent insider purchases are heartening. And the longer term insider transactions also give us confidence. Given that insiders also own a fair bit of Calibre Mining we think they are probably pretty confident of a bright future. So while it's helpful to know what insiders are doing in terms of buying or selling, it's also helpful to know the risks that a particular company is facing. To help with this, we've discovered 4 warning signs (1 can't be ignored!) that you ought to be aware of before buying any shares in Calibre Mining.
Of course Calibre Mining 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.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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Bullish Calibre Mining Corp. (TSE:CXB) insiders filled their treasuries with US$787k worth of stock over last year - Yahoo Finance
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