President of i-80 Gold Richard Young Buys 19% More Shares
Those following along with i-80 Gold Corp. (TSE:IAU) will no doubt be intrigued by the recent purchase of shares by Richard Young, President of the company, who spent a stonking CA$2.3m on stock at an average price of CA$2.25. Aside from being a solid chunk in its own right, the deft move also saw their holding increase by some 19%.
The Last 12 Months Of Insider Transactions At i-80 Gold
In fact, the recent purchase by Richard Young was the biggest purchase of i-80 Gold shares made by an insider individual in the last twelve months, according to our records. That means that an insider was happy to buy shares at around the current price of CA$2.40. 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. Happily, the i-80 Gold insiders decided to buy shares at close to current prices.
i-80 Gold insiders may have bought shares in the last year, but they didn't sell any. You can see the insider transactions (by companies and individuals) over the last year depicted in the chart below. If you want to know exactly who sold, for how much, and when, simply click on the graph below!
View our latest analysis for i-80 Gold
i-80 Gold is not the only stock insiders are buying. So take a peek at this free list of under-the-radar companies with insider buying.
Does i-80 Gold Boast High Insider Ownership?
Looking at the total insider shareholdings in a company can help to inform your view of whether they are well aligned with common shareholders. Usually, the higher the insider ownership, the more likely it is that insiders will be incentivised to build the company for the long term. i-80 Gold insiders own about CA$131m worth of shares. That equates to 6.9% of the company. We've certainly seen higher levels of insider ownership elsewhere, but these holdings are enough to suggest alignment between insiders and the other shareholders.
What Might The Insider Transactions At i-80 Gold Tell Us?
It is good to see recent purchasing. 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. Along with the high insider ownership, this analysis suggests that insiders are quite bullish about i-80 Gold. That's what I like to see! Of course, the future is what matters most. So if you are interested in i-80 Gold, you should check out this free report on analyst forecasts for the company.
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 of direct interests only, but not derivative transactions or indirect interests.
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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.