Bluejay Mining Reaches UK£9.8m Market Cap Benefiting Insider Stock Buying

Bluejay Mining plc (LON:JAY) insiders who purchased shares in the last 12 months were richly rewarded last week. The stock climbed by 120% resulting in a UK£5.3m addition to the company’s market value. Put another way, the original UK£53.0k acquisition is now worth UK£65.0k.

While insider transactions are not the most important thing when it comes to long-term investing, we would consider it foolish to ignore insider transactions altogether.

View our latest analysis for Bluejay Mining

Bluejay Mining Insider Transactions Over The Last Year

The Non-Executive Director Roderick McIllree made the biggest insider purchase in the last 12 months. That single transaction was for UK£53k worth of shares at a price of UK£0.0053 each. Although we like to see insider buying, we note that this large purchase was at significantly below the recent price of UK£0.0065. While it does suggest insiders consider the stock undervalued at lower prices, this transaction doesn't tell us much about what they think of current prices.

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!

There are always plenty of stocks that insiders are buying. If investing in lesser known companies is your style, you could take a look at this free list of companies. (Hint: insiders have been buying them).

Insider Ownership Of Bluejay Mining

For a common shareholder, it is worth checking how many shares are held by company insiders. Usually, the higher the insider ownership, the more likely it is that insiders will be incentivised to build the company for the long term. Our data indicates that Bluejay Mining insiders own about UK£766k worth of shares (which is 7.8% of the company). Whilst better than nothing, we're not overly impressed by these holdings.

What Might The Insider Transactions At Bluejay Mining Tell Us?

It doesn't really mean much that no insider has traded Bluejay Mining shares in the last quarter. However, our analysis of transactions over the last year is heartening. While we have no worries about the insider transactions, we'd be more comfortable if they owned more Bluejay Mining stock. 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. To help with this, we've discovered 4 warning signs (2 can't be ignored!) that you ought to be aware of before buying any shares in Bluejay Mining.

Of course Bluejay 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.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com