"Is Insider Buying Important? A well-known adage reminds us that corporate insiders and 10% owners really only buy shares of a company because they believe the stock price will rise and they want to profit from it. Thus, insider buying can be an encouraging signal for potential investors. This is all the more so during times of uncertainty in the markets, and even when markets are near all-time highs."
"This transaction was part of a public offering of Hycroft Mining Holding Corp. ( NASDAQ: HYMC) stock that raised approximately $150 million. The Nevada-based miner subsequently announced that it had extinguished all its remaining debt. The stock is almost 88% higher than 90 days ago and was last seen trading almost a dollar per share higher than the buyer's purchase price."
Insider buying typically slows when markets are near all-time highs and during earnings-reporting season, but it does not cease entirely. Recent notable insider purchases include a 10% owner acquiring almost 7.7 million shares of a gold and silver miner through a public offering, part of a $150 million raise that allowed the miner to extinguish remaining debt. The miner's stock has surged year over year and over 90 days, despite little analyst coverage and no Buy ratings, while consensus price targets have risen. Other insiders increased stakes in an offshore driller and a biotech during the same period.
Read at 24/7 Wall St.
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