Yahoo Finance Non-Executive Director of MetalsGrove Mining Picks Up 100% More Stock
Potential MetalsGrove Mining Limited (ASX:MGA) shareholders may wish to note that the Non-Executive Director, Haidong Chi, recently bought AU$213k worth of stock, paying AU$0.04 for each share. That certainly has us anticipating the best, especially since they thusly increased their own holding by 100%, potentially signalling some real optimism.
See our latest analysis for MetalsGrove Mining
MetalsGrove Mining Insider Transactions Over The Last Year
Notably, that recent purchase by Haidong Chi is the biggest insider purchase of MetalsGrove Mining shares that we've seen in the last year. We do like to see buying, but this purchase was made at well below the current price of AU$0.08. Because the shares were purchased at a lower price, this particular buy doesn't tell us much about how insiders feel about the current share 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!
There are plenty of other companies that have insiders buying up shares. You probably do not want to miss this free list of undervalued small cap companies that insiders are buying.
Insider Ownership Of MetalsGrove Mining
Looking at the total insider shareholdings in a company can help to inform your view of whether they are well aligned with common shareholders. We usually like to see fairly high levels of insider ownership. It appears that MetalsGrove Mining insiders own 23% of the company, worth about AU$2.0m. 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 MetalsGrove Mining Insider Transactions Indicate?
It is good to see the recent insider purchase. We also take confidence from the longer term picture of insider transactions. But on the other hand, the company made a loss during the last year, which makes us a little cautious. Insiders likely see value in MetalsGrove Mining shares, given these transactions (along with notable insider ownership of the company). In addition to knowing about insider transactions going on, it's beneficial to identify the risks facing MetalsGrove Mining. At Simply Wall St, we've found that MetalsGrove Mining has 5 warning signs (4 are significant!) that deserve your attention before going any further with your analysis.
Of course MetalsGrove 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 of direct interests only, but not derivative transactions or indirect interests.
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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.
