Yahoo Finance Robert Wares Is The Executive Chairman of Osisko Metals Incorporated (CVE:OM) And They Just Spent CA$454k On Shares
Investors who take an interest in Osisko Metals Incorporated (CVE:OM) should definitely note that the Executive Chairman, Robert Wares, recently paid CA$0.39 per share to buy CA$454k worth of the stock. Although the purchase only increased their holding by 6.0%, it is still a solid purchase in our view.
View our latest analysis for Osisko Metals
The Last 12 Months Of Insider Transactions At Osisko Metals
In fact, the recent purchase by Executive Chairman Robert Wares was not their only acquisition of Osisko Metals shares this year. Earlier in the year, they paid CA$0.70 per share in a CA$782k purchase. That means that an insider was happy to buy shares at above the current price of CA$0.41. It's very possible they regret the purchase, but it's more likely they are bullish about the company. 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. Notably Robert Wares was also the biggest seller.
In the last twelve months insiders purchased 13.90m shares for CA$7.5m. But they sold 2666600 for CA$1.4m. Overall, Osisko Metals insiders were net buyers last year. The average buy price was around CA$0.54. These transactions suggest that insiders have considered the current price attractive. You can see the insider transactions (by individuals) over the last year depicted in the chart below. If you click on the chart, you can see all the individual transactions, including the share price, individual, and the date!
There are always plenty of stocks that insiders are buying. So if that suits your style you could check each stock one by one or you could take a look at this free list of companies. (Hint: insiders have been buying them).
Insider Ownership
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. We usually like to see fairly high levels of insider ownership. It appears that Osisko Metals insiders own 16% of the company, worth about CA$10m. This level of insider ownership is good but just short of being particularly stand-out. It certainly does suggest a reasonable degree of alignment.
So What Does This Data Suggest About Osisko Metals Insiders?
It's certainly positive to see the recent insider purchase. 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. Given that insiders also own a fair bit of Osisko Metals we think they are probably pretty confident of a bright future. I like to dive deeper into how a company has performed in the past. You can access this interactive graph of past earnings, revenue and cash flow for free.
Of course Osisko Metals 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.
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