Independent Director Deborah Battiston Sold A Bunch Of Shares In McFarlane Lake Mining
Anyone interested in McFarlane Lake Mining Limited (CSE:MLM) should probably be aware that the Independent Director, Deborah Battiston, recently divested CA$496k worth of shares in the company, at an average price of CA$0.57 each. Equally important, that sale actually reduced their holding by a full 61% which hardly makes us feel bullish about the stock.
McFarlane Lake Mining Insider Transactions Over The Last Year
The insider Michael Gentile made the biggest insider purchase in the last 12 months. That single transaction was for CA$6.3m worth of shares at a price of CA$0.12 each. Although we like to see insider buying, we note that this large purchase was at significantly below the recent price of CA$0.53. Because the shares were purchased at a lower price, this particular buy doesn't tell us much about how insiders feel about the current share price.
In the last twelve months insiders purchased 56.62m shares for CA$6.8m. But they sold 1.91m shares for CA$1.0m. In total, McFarlane Lake Mining insiders bought more than they sold 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 want to know exactly who sold, for how much, and when, simply click on the graph below!
See our latest analysis for McFarlane Lake Mining
McFarlane Lake Mining is not the only stock insiders are buying. So take a peek at this free list of under-the-radar 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. It appears that McFarlane Lake Mining insiders own 21% of the company, worth about CA$64m. We've certainly seen higher levels of insider ownership elsewhere, but these holdings are enough to suggest alignment between insiders and the other shareholders.
So What Do The McFarlane Lake Mining Insider Transactions Indicate?
Insiders sold McFarlane Lake Mining shares recently, but they didn't buy any. But we take heart from prior transactions. It's good to see insiders are shareholders. So we're happy enough to look past some selling. In addition to knowing about insider transactions going on, it's beneficial to identify the risks facing McFarlane Lake Mining. Be aware that McFarlane Lake Mining is showing 6 warning signs in our investment analysis, and 5 of those are potentially serious...
Of course McFarlane Lake 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.