Even if it's not a huge purchase, we think it was good to see that Norman Pitcher, the Independent Director of Roxgold Inc. (TSE:ROXG) recently shelled out CA$97k to buy stock, at CA$1.54 per share. While that isn't the hugest buy, it actually boosted their shareholding by 130%, which is good to see.
See our latest analysis for Roxgold
The Last 12 Months Of Insider Transactions At Roxgold
Notably, that recent purchase by Norman Pitcher is the biggest insider purchase of Roxgold 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$1.48. 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. We always take careful note of the price insiders pay when purchasing shares. As a general rule, we feel more positive about a stock if insiders have bought shares at above current prices, because that suggests they viewed the stock as good value, even at a higher price.
Roxgold insiders may have bought shares in the last year, but they didn't sell any. The chart below shows insider transactions (by companies and individuals) over the last year. By clicking on the graph below, you can see the precise details of each insider transaction!
There are always plenty of stocks that insiders are buying. So if that suits your style you could check each stock one by one or you could take a look at this free list of companies. (Hint: insiders have been buying them).
Insider Ownership of Roxgold
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. Insiders own 3.6% of Roxgold shares, worth about CA$20m. 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 Do The Roxgold Insider Transactions Indicate?
It's certainly positive to see the recent insider purchase. And an analysis of the transactions over the last year also gives us confidence. When combined with notable insider ownership, these factors suggest Roxgold insiders are well aligned, and that they may think the share price is too low. 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.