Horizon Gold Non-Executive Chairman Acquires 78% More Stock

Horizon Gold Limited (ASX:HRN) shareholders (or potential shareholders) will be happy to see that the Non-Executive Chairman, Peter Sullivan, recently bought a whopping AU$790k worth of stock, at a price of AU$0.39. That purchase boosted their holding by 78%, which makes us wonder if the move was inspired by quietly confident deeply-felt optimism.

See our latest analysis for Horizon Gold

The Last 12 Months Of Insider Transactions At Horizon Gold

Notably, that recent purchase by Peter Sullivan is the biggest insider purchase of Horizon Gold shares that we've seen in the last year. We do like to see buying, but this purchase was made at well below the current price of AU$0.44. Because it occurred at a lower valuation, it doesn't tell us much about whether insiders might find today's price attractive.

In the last twelve months Horizon Gold insiders were buying shares, but not selling. You can see the insider transactions (by companies and individuals) over the last year depicted in the chart below. If you click on the chart, you can see all the individual transactions, including the share price, individual, and the date!

Horizon Gold is not the only stock insiders are buying. So take a peek at this free list of under-the-radar companies with insider buying.

Insider Ownership Of Horizon Gold

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. I reckon it's a good sign if insiders own a significant number of shares in the company. Insiders own 6.1% of Horizon Gold shares, worth about AU$3.9m, according to our data. Overall, this level of ownership isn't that impressive, but it's certainly better than nothing!

So What Does This Data Suggest About Horizon Gold Insiders?

The recent insider purchase is heartening. 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. We would certainly prefer see higher levels of insider ownership but analysis of the insider transactions suggests that Horizon Gold insiders are expecting a bright future. While it's good to be aware of what's going on with the insider's ownership and transactions, we make sure to also consider what risks are facing a stock before making any investment decision. Our analysis shows 5 warning signs for Horizon Gold (3 can't be ignored!) and we strongly recommend you look at them before investing.

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 of direct interests only, but not derivative transactions or indirect interests.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.