Have Insiders Sold Equinox Gold Shares Recently?

Some Equinox Gold Corp. (TSE:EQX) shareholders may be a little concerned to see that the EVP of Capital Markets, Ryan King, recently sold a substantial CA$1.8m worth of stock at a price of CA$18.04 per share. That sale reduced their total holding by 24% which is hardly insignificant, but far from the worst we've seen.

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Equinox Gold Insider Transactions Over The Last Year

In fact, the recent sale by Ryan King was the biggest sale of Equinox Gold shares made by an insider individual in the last twelve months, according to our records. So we know that an insider sold shares at around the present share price of CA$17.08. We generally don't like to see insider selling, but the lower the sale price, the more it concerns us. Given that the sale took place at around current prices, it makes us a little cautious but is hardly a major concern.

In the last twelve months insiders purchased 484.89k shares for CA$4.0m. On the other hand they divested 381.25k shares, for CA$4.4m. Over the last year we saw more insider selling of Equinox Gold shares, than buying. 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!

View our latest analysis for Equinox Gold

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Does Equinox Gold Boast High Insider Ownership?

Looking at the total insider shareholdings in a company can help to inform your view of whether they are well aligned with common shareholders. I reckon it's a good sign if insiders own a significant number of shares in the company. Equinox Gold insiders own about CA$623m worth of shares (which is 4.4% of the company). This kind of significant ownership by insiders does generally increase the chance that the company is run in the interest of all shareholders.

So What Do The Equinox Gold Insider Transactions Indicate?

The stark truth for Equinox Gold is that there has been more insider selling than insider buying in the last three months. Zooming out, the longer term picture doesn't give us much comfort. The company boasts high insider ownership, but we're a little hesitant, given the history of share sales. In addition to knowing about insider transactions going on, it's beneficial to identify the risks facing Equinox Gold. When we did our research, we found 3 warning signs for Equinox Gold (1 is concerning!) that we believe deserve your full attention.

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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.