Yahoo Finance Peter Grosskopf Is The Independent Director of Agnico Eagle Mines Limited (NYSE:AEM) And They Just Picked Up 25% More Shares
Investors who take an interest in Agnico Eagle Mines Limited (NYSE:AEM) should definitely note that the Independent Director, Peter Grosskopf, recently paid US$50.50 per share to buy US$126k worth of the stock. That's a very decent purchase to our minds and it grew their holding by a solid 25%.
View our latest analysis for Agnico Eagle Mines
Agnico Eagle Mines Insider Transactions Over The Last Year
The Executive Chairman Sean Boyd made the biggest insider purchase in the last 12 months. That single transaction was for US$1.0m worth of shares at a price of US$52.68 each. That means that even when the share price was higher than US$50.47 (the recent price), an insider wanted to purchase shares. Their view may have changed since then, but at least it shows they felt optimistic at the time. To us, it's very important to consider the price insiders pay for shares. It is generally more encouraging if they paid above the current price, as it suggests they saw value, even at higher levels.
Happily, we note that in the last year insiders paid US$1.4m for 27.70k shares. On the other hand they divested 1.79k shares, for US$105k. In the last twelve months there was more buying than selling by Agnico Eagle Mines insiders. You can see the insider transactions (by companies and 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!
Agnico Eagle Mines is not the only stock insiders are buying. So take a peek at this free list of growing companies with insider buying.
Insider Ownership Of Agnico Eagle Mines
For a common shareholder, it is worth checking how many shares are held by company insiders. We usually like to see fairly high levels of insider ownership. Insiders own 0.2% of Agnico Eagle Mines shares, worth about US$39m. 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 Does This Data Suggest About Agnico Eagle Mines Insiders?
It is good to see the recent insider purchase. We also take confidence from the longer term picture of insider transactions. When combined with notable insider ownership, these factors suggest Agnico Eagle Mines insiders are well aligned, and that they may think the share price is too low. 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. Be aware that Agnico Eagle Mines is showing 4 warning signs in our investment analysis, and 2 of those are a bit unpleasant...
If you would prefer to check out another company -- one with potentially superior financials -- then do not miss this free list of interesting companies, that have HIGH return on equity and low debt.
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.
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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.
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