WEBULL

Retail investors in Theta Gold Mines Limited (ASX:TGM) are its biggest bettors, and their bets paid off as stock gained 17% last week

Simply Wall St · 5d ago

Key Insights

  • Theta Gold Mines' significant retail investors ownership suggests that the key decisions are influenced by shareholders from the larger public
  • 47% of the business is held by the top 22 shareholders
  • 10% of Theta Gold Mines is held by Institutions

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A look at the shareholders of Theta Gold Mines Limited (ASX:TGM) can tell us which group is most powerful. The group holding the most number of shares in the company, around 53% to be precise, is retail investors. In other words, the group stands to gain the most (or lose the most) from their investment into the company.

As a result, retail investors collectively scored the highest last week as the company hit AU$215m market cap following a 17% gain in the stock.

Let's delve deeper into each type of owner of Theta Gold Mines, beginning with the chart below.

See our latest analysis for Theta Gold Mines

ownership-breakdown
ASX:TGM Ownership Breakdown January 7th 2026

What Does The Institutional Ownership Tell Us About Theta Gold Mines?

Institutional investors commonly compare their own returns to the returns of a commonly followed index. So they generally do consider buying larger companies that are included in the relevant benchmark index.

Theta Gold Mines already has institutions on the share registry. Indeed, they own a respectable stake in the company. This can indicate that the company has a certain degree of credibility in the investment community. However, it is best to be wary of relying on the supposed validation that comes with institutional investors. They too, get it wrong sometimes. It is not uncommon to see a big share price drop if two large institutional investors try to sell out of a stock at the same time. So it is worth checking the past earnings trajectory of Theta Gold Mines, (below). Of course, keep in mind that there are other factors to consider, too.

earnings-and-revenue-growth
ASX:TGM Earnings and Revenue Growth January 7th 2026

Hedge funds don't have many shares in Theta Gold Mines. Hongkong Ruihua Green Development Ltd is currently the largest shareholder, with 11% of shares outstanding. For context, the second largest shareholder holds about 4.5% of the shares outstanding, followed by an ownership of 4.4% by the third-largest shareholder.

Our studies suggest that the top 22 shareholders collectively control less than half of the company's shares, meaning that the company's shares are widely disseminated and there is no dominant shareholder.

Researching institutional ownership is a good way to gauge and filter a stock's expected performance. The same can be achieved by studying analyst sentiments. As far as we can tell there isn't analyst coverage of the company, so it is probably flying under the radar.

Insider Ownership Of Theta Gold Mines

While the precise definition of an insider can be subjective, almost everyone considers board members to be insiders. The company management answer to the board and the latter should represent the interests of shareholders. Notably, sometimes top-level managers are on the board themselves.

Most consider insider ownership a positive because it can indicate the board is well aligned with other shareholders. However, on some occasions too much power is concentrated within this group.

Shareholders would probably be interested to learn that insiders own shares in Theta Gold Mines Limited. In their own names, insiders own AU$19m worth of stock in the AU$215m company. This shows at least some alignment, but we usually like to see larger insider holdings. You can click here to see if those insiders have been buying or selling.

General Public Ownership

The general public -- including retail investors -- own 53% of Theta Gold Mines. This size of ownership gives investors from the general public some collective power. They can and probably do influence decisions on executive compensation, dividend policies and proposed business acquisitions.

Private Company Ownership

It seems that Private Companies own 24%, of the Theta Gold Mines stock. Private companies may be related parties. Sometimes insiders have an interest in a public company through a holding in a private company, rather than in their own capacity as an individual. While it's hard to draw any broad stroke conclusions, it is worth noting as an area for further research.

Public Company Ownership

It appears to us that public companies own 4.0% of Theta Gold Mines. It's hard to say for sure but this suggests they have entwined business interests. This might be a strategic stake, so it's worth watching this space for changes in ownership.

Next Steps:

It's always worth thinking about the different groups who own shares in a company. But to understand Theta Gold Mines better, we need to consider many other factors. Take risks for example - Theta Gold Mines has 3 warning signs (and 2 which are potentially serious) we think you should know about.

Of course, you might find a fantastic investment by looking elsewhere. So take a peek at this free list of interesting companies.

NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. This may not be consistent with full year annual report figures.