President Of Matachewan Consolidated Mines Sold 100% Of Their Shares
Some Matachewan Consolidated Mines, Limited (CVE:MCM.A) shareholders may be a little concerned to see that the President, Richard McCloskey, recently sold a substantial CA$1.3m worth of stock at a price of CA$0.30 per share. Probably the most concerning element of the whole transaction is that the disposal amounted to 100% of their entire holding.
The Last 12 Months Of Insider Transactions At Matachewan Consolidated Mines
Notably, that recent sale by Richard McCloskey is the biggest insider sale of Matachewan Consolidated Mines shares that we've seen in the last year. That means that an insider was selling shares at slightly below the current price (CA$0.31). We generally consider it a negative if insiders have been selling, especially if they did so below the current price, because it implies that they considered a lower price to be reasonable. However, while insider selling is sometimes discouraging, it's only a weak signal. This single sale was 100% of Richard McCloskey's stake.
In the last year Matachewan Consolidated Mines insiders didn't buy any company stock. 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!
See our latest analysis for Matachewan Consolidated Mines
For those who like to find hidden gems this free list of small cap companies with recent insider purchasing, could be just the ticket.
Insider Ownership
For a common shareholder, it is worth checking how many shares are held by company insiders. We usually like to see fairly high levels of insider ownership. Insiders own 19% of Matachewan Consolidated Mines shares, worth about CA$784k. While this is a strong but not outstanding level of insider ownership, it's enough to indicate some alignment between management and smaller shareholders.
So What Do The Matachewan Consolidated Mines Insider Transactions Indicate?
Insiders sold stock recently, but they haven't been buying. And there weren't any purchases to give us comfort, over the last year. But it is good to see that Matachewan Consolidated Mines is growing earnings. While insiders do own shares, they don't own a heap, and they have been selling. We're in no rush to buy! While it's good to be aware of what's going on with the insider's ownership and transactions, we make sure to also consider what risks are facing a stock before making any investment decision. Be aware that Matachewan Consolidated Mines is showing 5 warning signs in our investment analysis, and 2 of those shouldn't be ignored...
But note: Matachewan Consolidated Mines may not be the best stock to buy. So take a peek at this free list of interesting companies with high ROE and low debt.
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.