We wouldn’t blame Prime Mining Corp. (TSE:PRYM) shareholders if they were a little worried about the fact that Paul Sweeney, the Independent Director recently netted about CA$902k selling shares at an average price of CA$1.50. Probably the most concerning element of the whole transaction is that the disposal amounted to 80% of their entire holding.
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Prime Mining Insider Transactions Over The Last Year
Notably, that recent sale by Paul Sweeney is the biggest insider sale of Prime Mining shares that we’ve seen in the last year. So it’s clear an insider wanted to take some cash off the table, even below the current price of CA$1.64. As a general rule we consider it to be discouraging when insiders are selling below the current price, because it suggests they were happy with a lower valuation. However, while insider selling is sometimes discouraging, it’s only a weak signal. …
