Sixty North Gold Mining Gains 11%, Insider Trades Reap Benefit

Sixty North Gold Mining Ltd. (CSE:SXTY) insiders who purchased shares in the last 12 months were richly rewarded last week. The stock climbed by 11% resulting in a CA$425k addition to the company’s market value. As a result, the stock they originally bought for CA$400.0k is now worth CA$800.0k.

While insider transactions are not the most important thing when it comes to long-term investing, we do think it is perfectly logical to keep tabs on what insiders are doing.

View our latest analysis for Sixty North Gold Mining

The Last 12 Months Of Insider Transactions At Sixty North Gold Mining

Over the last year, we can see that the biggest insider purchase was by President David Webb for CA$400k worth of shares, at about CA$0.05 per share. Although we like to see insider buying, we note that this large purchase was at significantly below the recent price of CA$0.10. Because the shares were purchased at a lower price, this particular buy doesn't tell us much about how insiders feel about the current share price.

You can see the insider transactions (by companies and 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!

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

Does Sixty North Gold Mining Boast High Insider Ownership?

Many investors like to check how much of a company is owned by insiders. I reckon it's a good sign if insiders own a significant number of shares in the company. It appears that Sixty North Gold Mining insiders own 39% of the company, worth about CA$1.7m. While this is a strong but not outstanding level of insider ownership, it's enough to indicate some alignment between management and smaller shareholders.

So What Do The Sixty North Gold Mining Insider Transactions Indicate?

It doesn't really mean much that no insider has traded Sixty North Gold Mining shares in the last quarter. But insiders have shown more of an appetite for the stock, over the last year. Overall we don't see anything to make us think Sixty North Gold Mining insiders are doubting the company, and they do own shares. So these insider transactions can help us build a thesis about the stock, but it's also worthwhile knowing the risks facing this company. For example - Sixty North Gold Mining has 6 warning signs we think you should be aware of.

Of course Sixty North Gold Mining may not be the best stock to buy. So you may wish to see this free collection of high quality 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.