Have Orla Mining Insiders Been Selling Stock?

Anyone interested in Orla Mining Ltd. (TSE:OLA) should probably be aware that the Independent Non-Executive Director, Jean Robitaille, recently divested CA$402k worth of shares in the company, at an average price of CA$5.74 each. However, the silver lining is that the sale only reduced their total holding by 3.7%, so we're hesitant to read anything much into it, on its own.

Check out our latest analysis for Orla Mining

Orla Mining Insider Transactions Over The Last Year

The Independent Non-Executive Director, Timothy Haldane, made the biggest insider sale in the last 12 months. That single transaction was for CA$745k worth of shares at a price of CA$5.97 each. We generally don't like to see insider selling, but the lower the sale price, the more it concerns us. The good news is that this large sale was at well above current price of CA$5.34. So it may not shed much light on insider confidence at current levels.

Happily, we note that in the last year insiders paid CA$427k for 102.24k shares. On the other hand they divested 311.90k shares, for CA$1.8m. In total, Orla Mining 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. By clicking on the graph below, you can see the precise details of each insider transaction!

I will like Orla Mining 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.

Insider Ownership Of Orla Mining

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. We usually like to see fairly high levels of insider ownership. It's great to see that Orla Mining insiders own 12% of the company, worth about CA$198m. Most shareholders would be happy to see this sort of insider ownership, since it suggests that management incentives are well aligned with other shareholders.

What Might The Insider Transactions At Orla Mining Tell Us?

Insiders sold Orla Mining shares recently, but they didn't buy any. Despite some insider buying, the longer term picture doesn't make us feel much more positive. It is good to see high insider ownership, but the insider selling leaves us cautious. So while it's helpful to know what insiders are doing in terms of buying or selling, it's also helpful to know the risks that a particular company is facing. While conducting our analysis, we found that Orla Mining has 2 warning signs and it would be unwise to ignore them.

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.