Chief Operating Officer of West Africa Of Fortuna Mining Sold 100% Of Their Shares
Some Fortuna Mining Corp. (TSE:FVI) shareholders may be a little concerned to see that the Chief Operating Officer of West Africa, David Whittle, recently sold a substantial CA$1.5m worth of stock at a price of CA$14.98 per share. That diminished their holding by a very significant 100%, which arguably implies a strong desire to reallocate capital.
The Last 12 Months Of Insider Transactions At Fortuna Mining
In fact, the recent sale by David Whittle was the biggest sale of Fortuna Mining shares made by an insider individual in the last twelve months, according to our records. That means that an insider was selling shares at around the current price of CA$14.62. We generally don't like to see insider selling, but the lower the sale price, the more it concerns us. Given that the sale took place at around current prices, it makes us a little cautious but is hardly a major concern.
Over the last year we saw more insider selling of Fortuna Mining shares, than buying. You can see a visual depiction of insider transactions (by companies and individuals) over the last 12 months, below. If you want to know exactly who sold, for how much, and when, simply click on the graph below!
Check out our latest analysis for Fortuna Mining
If you like to buy stocks that insiders are buying, rather than selling, then you might just love this free list of companies. (Hint: Most of them are flying under the radar).
Insider Ownership Of Fortuna Mining
Many investors like to check how much of a company is owned by insiders. I reckon it's a good sign if insiders own a significant number of shares in the company. Insiders own 1.1% of Fortuna Mining shares, worth about CA$49m. This level of insider ownership is good but just short of being particularly stand-out. It certainly does suggest a reasonable degree of alignment.
What Might The Insider Transactions At Fortuna Mining Tell Us?
Unfortunately, there has been more insider selling of Fortuna Mining stock, than buying, in the last three months. Despite some insider buying, the longer term picture doesn't make us feel much more positive. But since Fortuna Mining is profitable and growing, we're not too worried by this. Insider ownership isn't particularly high, so this analysis makes us cautious about the company. We're in no rush to buy! In addition to knowing about insider transactions going on, it's beneficial to identify the risks facing Fortuna Mining. While conducting our analysis, we found that Fortuna Mining has 1 warning sign and it would be unwise to ignore this.
But note: Fortuna Mining may not be the best stock to buy. So take a peek at this free list of interesting companies with high ROE 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 of direct interests only, but not derivative transactions or indirect interests.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
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.