Jinghe Chen Is The Chairman of the Board of Zijin Mining Group Company Limited (HKG:2899) And They Just Spent CN¥8.9m On Shares
Those following along with Zijin Mining Group Company Limited (HKG:2899) will no doubt be intrigued by the recent purchase of shares by Jinghe Chen, Chairman of the Board of the company, who spent a stonking HK$8.9m on stock at an average price of HK$3.02. Not only is that a big swing, but it increased their holding size by 25%, which is definitely great to see.
View our latest analysis for Zijin Mining Group
The Last 12 Months Of Insider Transactions At Zijin Mining Group
Notably, that recent purchase by Chairman of the Board Jinghe Chen was not the only time they bought Zijin Mining Group shares this year. They previously made an even bigger purchase of HK$11m worth of shares at a price of HK$2.87 per share. So it's clear an insider wanted to buy, at around the current price, which is HK$3.12. Of course they may have changed their mind. But this suggests they are optimistic. While we always like to see insider buying, it's less meaningful if the purchases were made at much lower prices, as the opportunity they saw may have passed. In this case we're pleased to report that the insider bought shares at close to current prices. Jinghe Chen was the only individual insider to buy over the year.
Jinghe Chen bought 7000000 shares over the last 12 months at an average price of HK$2.93. 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!
Zijin Mining Group is not the only stock that insiders are buying. For those who like to find winning investments this free list of growing companies with recent insider purchasing, could be just the ticket.
Insider Ownership of Zijin Mining Group
Many investors like to check how much of a company is owned by insiders. Usually, the higher the insider ownership, the more likely it is that insiders will be incentivised to build the company for the long term. Insiders own 0.5% of Zijin Mining Group shares, worth about HK$536m. This level of insider ownership is good but just short of being particularly stand-out. It certainly does suggest a reasonable degree of alignment.
So What Does This Data Suggest About Zijin Mining Group Insiders?
The recent insider purchase is heartening. And an analysis of the transactions over the last year also gives us confidence. When combined with notable insider ownership, these factors suggest Zijin Mining Group insiders are well aligned, and quite possibly think the share price is too low. One for the watchlist, at least! Therefore, you should should definitely take a look at this FREE report showing analyst forecasts for Zijin Mining Group.
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.
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