Equinox Gold Insiders Placed Bullish Bets Worth US$1.18m

Quite a few insiders have dramatically grown their holdings in Equinox Gold Corp. (TSE:EQX) over the past 12 months. An insider's optimism about the company's prospects is a positive sign.

Although we don't think shareholders should simply follow insider transactions, we do think it is perfectly logical to keep tabs on what insiders are doing.

Check out our latest analysis for Equinox Gold

Equinox Gold Insider Transactions Over The Last Year

Over the last year, we can see that the biggest insider purchase was by Independent Chairman of the Board Ross Beaty for CA$991k worth of shares, at about CA$3.78 per share. We do like to see buying, but this purchase was made at well below the current price of CA$6.02. 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.

Over the last year, we can see that insiders have bought 308.34k shares worth CA$1.2m. But they sold 12.67k shares for CA$75k. In the last twelve months there was more buying than selling by Equinox Gold insiders. 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!

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).

Are Equinox Gold Insiders Buying Or Selling?

We have seen a bit of insider selling at Equinox Gold, over the last three months. The selling netted CA$29k for Senior Vice President of Project Development Gordana Vicentijevic. But the good news is that there was purchasing too , worth CA$20k. While it's not great to see insider selling, the net amount sold isn't enough for us to want to read anything into it.

Insider Ownership Of Equinox Gold

Many investors like to check how much of a company is owned by insiders. A high insider ownership often makes company leadership more mindful of shareholder interests. Equinox Gold insiders own about CA$162m worth of shares (which is 8.6% of the company). I like to see this level of insider ownership, because it increases the chances that management are thinking about the best interests of shareholders.

So What Do The Equinox Gold Insider Transactions Indicate?

Our data shows a little more insider selling than buying in the last three months. But the net divestment is not enough to concern us at all. On a brighter note, the transactions over the last year are encouraging. With high insider ownership and encouraging transactions, it seems like Equinox Gold insiders think the business has merit. In addition to knowing about insider transactions going on, it's beneficial to identify the risks facing Equinox Gold. For example - Equinox Gold has 2 warning signs we think you should be aware of.

Of course Equinox Gold 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.