Insider Buying: Stephen Nordstrom Just Spent AU$1.6m On Navarre Minerals Limited (ASX:NML) Shares
Navarre Minerals Limited (ASX: NML) shareholders (or prospective shareholders) will be pleased to see that insider Stephen Nordstrom recently purchased a whopping AU $ 1.6 million of shares at a price of AU $ 0.14 . Aside from being a solid piece on its own, the skillful move also made the stock up around 42%.
Check out our latest analysis for Navarre Minerals
Navarre Minerals insider dealings last year
In fact, insider Stephen Nordstrom's recent purchase wasn't the only acquisition of Navarre Minerals shares that year. Earlier this year they paid AU $ 0.11 per share on a purchase of AU $ 1.8 million. While we'd like to see inside buying, we find that this large purchase was well below its recent price of AU $ 0.18. Since it was a lower valuation, it doesn't say much about whether insiders might find today's price attractive.
In the past twelve months, insiders bought 30.70 million shares for AU $ 3.5 million. On the other hand, they sold 800,000 shares for AU $ 107,000. Overall, Navarre Minerals' insiders were net buyers last year. The following table shows the insider transactions (by companies and individuals) over the past year. If you click on the chart, you will see all of the individual transactions, including the stock price, the individual, and the date!
Insider trading volume
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Navarre Minerals inside ownership
For a common stockholder, it is worth checking how many shares are held by insiders. I think it is a good sign when insiders own a significant number of shares in the company. It appears that Navarre Minerals insiders own 15% of the company, valued at approximately AU $ 15 million. We have certainly seen higher levels of insider ownership elsewhere, but these levels are sufficient to suggest an alignment between insiders and the other shareholders.
What do Navarre Minerals Insider Transactions indicate?
It is certainly positive to see recent insider buying. We also trust the longer-term picture of insider transactions. However, we note that the company has not made a profit in the past twelve months, which makes us cautious. Given that Insiders also own a fair bit of Navarre Minerals, we believe they are pretty confident of a bright future. While we like to know what's wrong with the insider's property and transactions, we should also consider the risks a stock is exposed to before making any investment decisions. To help this out, we have discovered 3 warning signs that you should think about for a better picture of Navarre Minerals.
Of course, Navarre Minerals may not be the best stock to buy. You may want to see this free collection of quality companies.
For the purposes of this article, insiders are persons who report their transactions to the competent supervisory authority. We currently consider open market transactions and private sales, but not derivative transactions.
This article from Simply Wall St is of a general nature. It is not a recommendation to buy or sell shares and does not take into account your goals or your financial situation. We want to provide you with a long-term, focused analysis based on fundamental data. Note that our analysis may not take into account the latest price sensitive company announcements or quality materials. Simply Wall St has no position in the stocks mentioned.
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