Kinross Gold President Geoffrey Gold Sells 27% Of Holding

Some Kinross Gold Corporation (TSE:K) shareholders may be a little concerned to see that the President, Geoffrey Gold, recently sold a substantial CA$2.3m worth of stock at a price of CA$18.13 per share. That sale reduced their total holding by 27% which is hardly insignificant, but far from the worst we've seen.

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Kinross Gold Insider Transactions Over The Last Year

In the last twelve months, the biggest single sale by an insider was when the CEO & Director, J. Rollinson, sold CA$18m worth of shares at a price of CA$14.00 per share. That means that even when the share price was below the current price of CA$17.86, an insider wanted to cash in some shares. When an insider sells below the current price, it suggests that they considered that lower price to be fair. That makes us wonder what they think of the (higher) recent valuation. However, while insider selling is sometimes discouraging, it's only a weak signal. It is worth noting that this sale was only 26% of J. Rollinson's holding.

Happily, we note that in the last year insiders paid CA$181k for 12.00k shares. But they sold 2.61m shares for CA$35m. In total, Kinross Gold insiders sold more than they bought over the last year. You can see a visual depiction of insider transactions (by companies and individuals) over the last 12 months, below. If you click on the chart, you can see all the individual transactions, including the share price, individual, and the date!

See our latest analysis for Kinross Gold

I will like Kinross Gold better if I see some big insider buys. While we wait, check out this free list of undervalued and small cap stocks with considerable, recent, insider buying.

Does Kinross Gold Boast High Insider Ownership?

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. A high insider ownership often makes company leadership more mindful of shareholder interests. Kinross Gold insiders own about CA$126m worth of shares. That equates to 0.6% of the company. We've certainly seen higher levels of insider ownership elsewhere, but these holdings are enough to suggest alignment between insiders and the other shareholders.

What Might The Insider Transactions At Kinross Gold Tell Us?

Unfortunately, there has been more insider selling of Kinross Gold stock, than buying, in the last three months. And our longer term analysis of insider transactions didn't bring confidence, either. But it is good to see that Kinross Gold is growing earnings. While insiders do own a lot of shares in the company (which is good), our analysis of their transactions doesn't make us feel confident about the company. So these insider transactions can help us build a thesis about the stock, but it's also worthwhile knowing the risks facing this company. Every company has risks, and we've spotted 2 warning signs for Kinross Gold (of which 1 doesn't sit too well with us!) you should know about.

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.