Yahoo Finance Insider Buying: The Hudbay Minerals Inc. (TSE:HBM) Independent Director Just Bought 82% More Shares
Whilst it may not be a huge deal, we thought it was good to see that the Hudbay Minerals Inc. (TSE:HBM) Independent Director, David Smith, recently bought CA$75k worth of stock, for CA$6.55 per share. While that isn't the hugest buy, it actually boosted their shareholding by 82%, which is good to see.
See our latest analysis for Hudbay Minerals
Hudbay Minerals Insider Transactions Over The Last Year
In fact, the recent purchase by David Smith was the biggest purchase of Hudbay Minerals shares made by an insider individual in the last twelve months, according to our records. So it's clear an insider wanted to buy, at around the current price, which is CA$6.59. That means they have been optimistic about the company in the past, though they may have changed their mind. We do always like to see insider buying, but it is worth noting if those purchases were made at well below today's share price, as the discount to value may have narrowed with the rising price. The good news for Hudbay Minerals share holders is that insiders were buying at near the current price.
In the last twelve months Hudbay Minerals insiders were buying shares, but not selling. The average buy price was around CA$7.57. This is nice to see since it implies that insiders might see value around current prices. The chart below shows insider transactions (by companies and individuals) over the last year. If you want to know exactly who sold, for how much, and when, simply click on the graph below!
Hudbay Minerals is not the only stock insiders are buying. So take a peek at this free list of growing companies with insider buying.
Insider Ownership
Another way to test the alignment between the leaders of a company and other shareholders is to look at how many shares they own. I reckon it's a good sign if insiders own a significant number of shares in the company. From looking at our data, insiders own CA$4.8m worth of Hudbay Minerals stock, about 0.3% of the company. I generally like to see higher levels of ownership.
What Might The Insider Transactions At Hudbay Minerals Tell Us?
It's certainly positive to see the recent insider purchases. We also take confidence from the longer term picture of insider transactions. However, we note that the company didn't make a profit over the last twelve months, which makes us cautious. On this analysis the only slight negative we see is the fairly low (overall) insider ownership; their transactions suggest that they are quite positive on Hudbay Minerals 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. You'd be interested to know, that we found 1 warning sign for Hudbay Minerals and we suggest you have a look.
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, but not derivative transactions.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
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.
