Investors who take an interest in Osisko Mining Inc. (TSE:OSK) should definitely note that the Non-Executive Director, Robert Wares, recently paid CA$3.40 per share to buy CA$340k worth of the stock. Although the purchase only increased their holding by 6.5%, it is still a solid purchase in our view.
Osisko Mining Insider Transactions Over The Last Year
In the last twelve months, the biggest single purchase by an insider was when Director Jose Vizquerra-Benavides bought CA$2.0m worth of shares at a price of CA$3.15 per share. That means that an insider was happy to buy shares at around the current price of CA$3.49. That means they have been optimistic about the company in the past, though they may have changed their mind. We do always like to see insider buying, but it is worth noting if those purchases were made at well below today's share price, as the discount to value may have narrowed with the rising price. In this case we're pleased to report that the insider purchases were made at close to current prices.
In the last twelve months insiders purchased 1.49m shares for CA$4.6m. But they sold 1343167 for CA$3.9m. In the last twelve months there was more buying than selling by Osisko Mining insiders. You can see the insider transactions (by individuals) over the last year depicted in the chart below. By clicking on the graph below, you can see the precise details of each insider transaction!
Osisko Mining 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.
Does Osisko Mining Boast High Insider Ownership?
I like to look at how many shares insiders own in a company, to help inform my view of how aligned they are with 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. Osisko Mining insiders own about CA$45m worth of shares. That equates to 4.5% 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.
So What Does This Data Suggest About Osisko Mining Insiders?
The insider sales have outweighed the insider buying, at Osisko Mining, in the last three months. In contrast, they appear keener if you look at the last twelve months. It's good to see insiders are shareholders. So we're happy enough to look past some selling. If you are like me, you may want to think about whether this company will grow or shrink. Luckily, you can check this free report showing analyst forecasts for its future.
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, but not derivative transactions.
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