Monday’s Insider Report: CEO Invests Over $1 Million in This Gold Stock
Listed below are companies that have recently been the subject of insider trading in the public market through their direct and indirect holdings, including accounts over which they exercise control or direction.
The list shows insider trading activities; it does not convey total ownership information because an insider may hold many accounts.
Keep in mind that when looking at insider trading activity, buying activity may reflect a security’s perceived value. Selling activity may or may not be related to the valuation of a stock; perhaps an insider needs to raise funds for personal reasons. An insider’s total holdings should be considered because a sale may, in context, be insignificant if that person has a significant remaining position in the company. I tend to place a premium on insider trading when I see multiple insiders trading in a company’s stock or shares.
Let’s start the report featuring two companies that had insider buying activity.
Below is a stock that has had buy activity in the public market reported by an insider.
Aris Gold Corp. (ARIS-T)
On April 19, CEO and director Neil Woodyer invested $1.2 million in shares of Aris Gold. He bought 600,000 shares at a cost per share of $2, bringing that particular account’s position to 4,039,778 shares.
According to Refinitiv, the company is covered by two analysts – both have buy recommendations. Taylor Combaluzier of Red Cloud Securities has a target price of $5.75 (expected potential return of 219%) and Kerry Smith of Haywood Securities has a target price of $2.75 (expected potential return of 53%). On April 22, the stock price closed at $1.80.
Below are three stocks that have had recent selling activity in the public market reported by insiders.
Arizona Metals Corp. (AMC-X)
Between April 11 and April 17, VP of Exploration David Smith sold 20,000 shares at an average price per share of about $6.69, eliminating his position in that specific account. Sales proceeds totaled over $133,000, excluding commission fees.
Endeavor Silver Corp. (EDR-T)
On April 14, Executive Chairman of the Board, Bradford Cooke, exercised his options, receiving 270,000 shares at a cost per share of $4.32, and sold 270,000 shares at an average price per share of about $7. Net proceeds exceeded $724,000, not including associated transaction fees.
A few days later, on April 18, Mr. Cooke sold 100,000 shares at an average price per share of around $7.076, after which that particular account held 1,022,881 shares. Proceeds from this sale totaled over $707,000, excluding trading fees.
K92 Mining Inc. (KNT-T)
On April 14, Saurabh Handa, who sits on the board, exercised his options, receiving 125,000 shares at a cost per share of $3.85, and sold 125,000 shares at a price per share of 9.94. $ with 170,000 shares remaining in that particular account. Net proceeds totaled over $761,000, not including associated transaction fees.
Between April 4 and April 12, Senior Vice President of Operations Warren Uyen sold a total of 113,800 shares at an average price per share of around $9.14, eliminating his position in that specific account. Sales proceeds exceeded $1 million, not including trading fees.
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