Eldorado Gold Corporation (TSE:ELD) shareholders (or potential shareholders) will be happy to see that the Executive VP & CFO, Philip Yee, recently bought a whopping US$1.0m worth of stock, at a price of US$10.08. That increased their holding by a full 155%, which arguably implies the sort of confidence required for a shy sweet-natured nerd to ask the most popular kid in the school to go out on a date.
Eldorado Gold Insider Transactions Over The Last Year
Notably, that recent purchase by Philip Yee is the biggest insider purchase of Eldorado Gold shares that we've seen in the last year. That means that an insider was happy to buy shares at around the current price of CA$10.48. While their view may have changed since the purchase was made, this does at least suggest they have had confidence in the company's future. If someone buys shares at well below current prices, it's a good sign on balance, but keep in mind they may no longer see value. In this case we're pleased to report that the insider purchases were made at close to current prices.
Over the last year, we can see that insiders have bought 170750 shares worth CA$1.6m. On the other hand they divested 18551 shares, for CA$110k. Overall, Eldorado Gold insiders were net buyers last year. The chart below shows insider transactions (by individuals) over the last year. By clicking on the graph below, you can see the precise details of each insider transaction!
Eldorado Gold 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 Eldorado Gold
For a common shareholder, it is worth checking how many shares are held by company insiders. I reckon it's a good sign if insiders own a significant number of shares in the company. Our data indicates that Eldorado Gold insiders own about CA$7.7m worth of shares (which is 0.5% of the company). We do generally prefer see higher levels of insider ownership.
So What Does This Data Suggest About Eldorado Gold Insiders?
It's certainly positive to see the recent insider purchases. We also take confidence from the longer term picture of insider transactions. 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 Eldorado Gold stock. Therefore, you should should definitely take a look at this FREE report showing analyst forecasts for Eldorado Gold.
Of course, you might find a fantastic investment by looking elsewhere. So take a peek at this free list of interesting 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.
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.
If you spot an error that warrants correction, please contact the editor at firstname.lastname@example.org. 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. Thank you for reading.