Yahoo Finance Frank Giustra Just Bought 13% More Shares In Gold X Mining Corp. (CVE:GLDX)
Investors who take an interest in Gold X Mining Corp. (CVE:GLDX) should definitely note that insider Frank Giustra recently paid CA$0.95 per share to buy CA$200k worth of the stock. That's a very solid buy in our book, and increased their holding by a noteworthy 13%.
See our latest analysis for Gold X Mining
Gold X Mining Insider Transactions Over The Last Year
Member of Strategic Advisory Board Brian Paes-Braga made the biggest insider purchase in the last 12 months. That single transaction was for CA$1.9m worth of shares at a price of CA$1.60 each. Even though the purchase was made at a significantly lower price than the recent price (CA$2.07), we still think insider buying is a positive. Because it occurred at a lower valuation, it doesn't tell us much about whether insiders might find today's price attractive.
In the last twelve months insiders purchased 1.82m shares for CA$2.5m. But they sold 13750 shares for CA$46k. In the last twelve months there was more buying than selling by Gold X Mining insiders. The average buy price was around CA$1.39. It is certainly positive to see that insiders have invested their own money in the company. But we must note that the investments were made at well below today's share price. You can see the insider transactions (by individuals) over the last year depicted in the chart below. By clicking on the graph below, you can see the precise details of each insider transaction!
There are plenty of other companies that have insiders buying up shares. You probably do not want to miss this free list of growing companies that insiders are buying.
Insider Ownership of Gold X Mining
Many investors like to check how much of a company is owned by insiders. A high insider ownership often makes company leadership more mindful of shareholder interests. Our data indicates that Gold X Mining insiders own about CA$8.3m worth of shares (which is 11% of the company). Overall, this level of ownership isn't that impressive, but it's certainly better than nothing!
So What Do The Gold X Mining Insider Transactions Indicate?
It's certainly positive to see the recent insider purchases. And an analysis of the transactions over the last year also gives us confidence. But we don't feel the same about the fact the company is making losses. On this analysis the only slight negative we see is the fairly low (overall) insider ownership; their transactions suggest that they are quite positive on Gold X Mining stock. So these insider transactions can help us build a thesis about the stock, but it's also worthwhile knowing the risks facing this company. Case in point: We've spotted 4 warning signs for Gold X Mining you should be aware of, and 1 of them is concerning.
Of course Gold X 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.
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.
