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Multiple insiders secured a larger position in Borealis Mining Company Limited (CVE:BOGO) shares over the last 12 months. This is reassuring as this suggests that insiders have increased optimism about the company's prospects.
While we would never suggest that investors should base their decisions solely on what the directors of a company have been doing, we do think it is perfectly logical to keep tabs on what insiders are doing.
View our latest analysis for Borealis Mining
The Last 12 Months Of Insider Transactions At Borealis Mining
Notably, that recent purchase by Eric Sprott is the biggest insider purchase of Borealis Mining shares that we've seen in the last year. That means that an insider was happy to buy shares at above the current price of CA$0.52. Their view may have changed since then, but at least it shows they felt optimistic at the time. We always take careful note of the price insiders pay when purchasing shares. Generally speaking, it catches our eye when insiders have purchased shares at above current prices, as it suggests they believed the shares were worth buying, even at a higher price.
In the last twelve months Borealis Mining insiders were buying shares, but not selling. The chart below shows insider transactions (by companies and individuals) over the last year. If you want to know exactly who sold, for how much, and when, simply click on the graph below!
There are plenty of other companies that have insiders buying up shares. You probably do not want to miss this free list of undervalued small cap companies that insiders are buying.
Borealis Mining Insiders Bought Stock Recently
Over the last quarter, Borealis Mining insiders have spent a meaningful amount on shares. In total, insiders bought CA$5.0m worth of shares in that time, and we didn't record any sales whatsoever. This could be interpreted as suggesting a positive outlook.
Does Borealis Mining Boast High Insider Ownership?
For a common shareholder, it is worth checking how many shares are held by company insiders. A high insider ownership often makes company leadership more mindful of shareholder interests. Insiders own 38% of Borealis Mining shares, worth about CA$16m. 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 Borealis Mining Tell Us?
It is good to see recent purchasing. And an analysis of the transactions over the last year also gives us confidence. However, we note that the company didn't make a profit over the last twelve months, which makes us cautious. Given that insiders also own a fair bit of Borealis Mining we think they are probably pretty confident of a bright future. In addition to knowing about insider transactions going on, it's beneficial to identify the risks facing Borealis Mining. To help with this, we've discovered 5 warning signs (2 are significant!) that you ought to be aware of before buying any shares in Borealis Mining.