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Equinox Gold Corp. (TSE:EQX) insiders placed bullish bets worth US$3.5m in the last 12 months

Quite a few insiders have dramatically grown their holdings in Equinox Gold Corp. (TSE:EQX) over the past 12 months. An insider's optimism about the company's prospects is a positive sign.

While insider transactions are not the most important thing when it comes to long-term investing, logic dictates you should pay some attention to whether insiders are buying or selling shares.

See our latest analysis for Equinox Gold

The Last 12 Months Of Insider Transactions At Equinox Gold

The Independent Chairman of the Board Ross Beaty made the biggest insider purchase in the last 12 months. That single transaction was for CA$991k worth of shares at a price of CA$3.78 each. Even though the purchase was made at a significantly lower price than the recent price (CA$4.81), we still think insider buying is a positive. While it does suggest insiders consider the stock undervalued at lower prices, this transaction doesn't tell us much about what they think of current prices.

Over the last year, we can see that insiders have bought 624.52k shares worth CA$3.5m. But they sold 103.93k shares for CA$901k. In the last twelve months there was more buying than selling by Equinox Gold insiders. The average buy price was around CA$5.58. These transactions suggest that insiders have considered the current price attractive. 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!

insider-trading-volume
insider-trading-volume

There are plenty of other companies that have insiders buying up shares. You probably do not want to miss this free list of growing companies that insiders are buying.

Insiders At Equinox Gold Have Bought Stock Recently

Over the last quarter, Equinox Gold insiders have spent a meaningful amount on shares. In total, insiders bought CA$1.2m worth of shares in that time, and we didn't record any sales whatsoever. This makes one think the business has some good points.

Does Equinox Gold Boast High Insider Ownership?

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. It appears that Equinox Gold insiders own 8.9% of the company, worth about CA$131m. 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 Equinox Gold Tell Us?

It's certainly positive to see the recent insider purchases. And the longer term insider transactions also give us confidence. But we don't feel the same about the fact the company is making losses. When combined with notable insider ownership, these factors suggest Equinox Gold insiders are well aligned, and quite possibly think the share price is too low. One for the watchlist, at least! Of course, the future is what matters most. So if you are interested in Equinox Gold, you should check out this free report on analyst forecasts for the company.

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.

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.

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