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Since my December 28, 2012 article titled "2 Gold Stocks With Recent Insider Buying" the stocks that I featured in the article have performed as follows:

CompanyPrice 12/27Price 1/18Change
CGR$0.52$0.60+15.4%
USA.TO$1.71$2.12+24.0%

In this article I will feature three gold stocks that have seen intensive insider buying during the last 30 days.

Intensive insider buying can be defined by the following three criteria:

  1. The stock is purchased by three or more insiders within one month.
  2. The stock is sold by no insiders in the month of intensive purchasing.
  3. At least two purchasers increase their holdings by more than 10 percent.

1. AuRico Gold (NYSE:AUQ) is a leading Canadian gold producer with high quality mines and projects in North America that have significant production growth and exploration potential. Following the divestiture of the Ocampo mine, the company will be focused on its core operations including the Young-Davidson gold mine in northern Ontario which declared commercial production on September 1, 2012 and the El Chanate mine in Sonora State. AuRico's strong project pipeline also includes advanced exploration opportunities in Mexico and British Columbia.

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Insider buys

  • Colin Benner purchased 698 shares on January 17 pursuant to a purchase/ownership plan. Colin Benner currently holds 24,672 shares or less than 0.1% of the company. Colin Benner is AuRico's Executive Chairman of the Board.
  • Trent Mell purchased 1,779 shares on January 17 pursuant to a purchase/ownership plan. Trent Mell currently holds 1,779 shares or less than 0.1% of the company. Trent Mell is AuRico's Executive Vice President, Corporate Affairs.
  • Alan Edwards purchased 335 shares on January 17 pursuant to a purchase/ownership plan. Alan Edwards currently holds 10,382 shares or less than 0.1% of the company. Alan Edwards serves as a director of the company.
  • Joseph Spiteri purchased 279 shares on January 17 pursuant to a purchase/ownership plan. Joseph Spiteri currently holds 10,080 shares or less than 0.1% of the company. Joseph Spiteri serves as a director of the company.
  • Ronald Smith purchased 363 shares on January 17 pursuant to a purchase/ownership plan. Ronald Smith currently holds 5,927 shares or less than 0.1% of the company. Ronald Smith serves as a director of the company.
  • Peter MacPhail purchased 1,761 shares on January 17 pursuant to a purchase/ownership plan. Peter MacPhail currently holds 29,940 shares or less than 0.1% of the company. Peter MacPhail is AuRico's Executive Vice President & Chief Operating Officer.
  • Mark Daniel purchased 363 shares on January 17 pursuant to a purchase/ownership plan. Mark Daniel currently holds 9,226 shares or less than 0.1% of the company. Mark Daniel serves as a director of the company.
  • Patrick Downey purchased 279 shares on January 17 pursuant to a purchase/ownership plan. Patrick Downey currently holds 12,269 shares or less than 0.1% of the company. Patrick Downey serves as a director of the company.
  • Luis Chavez purchased 1,215 shares on January 17 pursuant to a purchase/ownership plan. Luis Chavez currently holds 34,300 shares or less than 0.1% of the company. Luis Chavez serves as a director of the company.
  • Christopher Rockingham purchased 1,289 shares on January 17 pursuant to a purchase/ownership plan. Christopher Rockingham currently holds 30,347 shares or less than 0.1% of the company. Christopher Rockingham is AuRico's Vice President, Exploration & Business Development.
  • Christopher Richter purchased 933 shares on January 17 pursuant to a purchase/ownership plan. Christopher Richter currently holds 13,219 shares or less than 0.1% of the company. Christopher Richter is AuRico's Senior Vice President, Corporate Development.
  • Christopher Bostwick purchased 1,387 shares on January 17 pursuant to a purchase/ownership plan. Christopher Bostwick currently holds 19,554 shares or less than 0.1% of the company. Christopher Bostwick is AuRico's Senior Vice President, Technical Services.
  • Charlene Milner purchased 985 shares on January 17 pursuant to a purchase/ownership plan. Charlene Milner currently holds 985 shares or less than 0.1% of the company. Charlene Milner joined the company in January 2008 as the Director of Financial Reporting, and was appointed Vice President, Finance in October 2011.
  • Anne Day purchased 979 shares on January 17 pursuant to a purchase/ownership plan. Anne Day currently holds 6,412 shares or less than 0.1% of the company. Anne Day is AuRico's Vice President of Investor Relations and Communications.
  • Scott Perry purchased 2,633 shares on January 17 pursuant to a purchase/ownership plan. Scott Perry currently holds 86,515 shares or less than 0.1% of the company. Scott Perry is AuRico's President and Chief Executive Officer.

Financials

The company reported the third-quarter financial results on November 13 with the following highlights:

Revenue$77.1 million
Net income$35.2 million
Cash & Investments$173.6 million
Debt$297.9 million
Gold production51,881 gold equivalent ounces

News

On December 14, 2012 AuRico announced that it has completed the sale of the Ocampo mine and adjacent exploration projects Venus and Los Jarros, located in Chihuahua, Mexico, to Minera Frisco. Minera Frisco has also acquired a 50% interest in the Orion advanced exploration project and a joint venture agreement is currently being negotiated. Total cash consideration paid at closing by Minera Frisco was $750 million. AuRico will use the net proceeds from the sale to eliminate certain debt obligations, invest in internal growth opportunities, provide sufficient working capital and liquidity for the company and undertake a significant return of capital to shareholders.

On January 18, 2013 AuRico reported preliminary fourth quarter 2012 operational results with 41,146 gold ounces produced.

Outlook

Company-wide production in 2013 is expected to be in the range of 190,000 to 220,000 gold ounces, significantly increasing production over 2012, primarily as a result of increasing production from the Young-Davidson mine as underground production ramps-up over the year and as improved productivity is achieved through the commissioning of the shaft infrastructure during the third quarter. As a result, production in the second half of the year is expected to strengthen and will exceed production during the first half of the year. Cash costs are expected to be in the range of $540 to $620 per ounce and all-in costs are expected be between $1,100 and $1,200 per ounce.

My analysis

There have been 15 different insiders buying and there have not been any insiders selling the shares during the last 30 days. There are two analyst buy ratings, four neutral ratings and 0 sell ratings, with an average target price of $8.67. The company's proven and probable reserves are 5.1 million ounces. AuRico is going to present a reserve and resources update on the first week of March. The stock is trading at a P/E ratio of 30.26 and a forward P/E ratio of 15.71. The company has a book value of $8.22 per share. I believe the stock could be a good pick at or below the book value.

2. Osisko Mining Corporation (OTCPK:OSKFF) operates the Canadian Malartic gold mine in Malartic, Quebec and is pursuing exploration on a number of properties, including the Hammond Reef Gold Project in Northern Ontario.

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Insider buys

  • Sean Roosen purchased 2,798 shares on January 17 pursuant to a purchase/ownership plan. Sean Roosen currently holds 788,812 shares or 0.2% of the company. Sean Roosen has been President and Chief Executive Officer of Osisko since March 2006.
  • André Le Bel purchased 2,798 shares on December 31, 2012 pursuant to a purchase/ownership plan. André Le Bel currently holds 34,512 shares or less than 0.1% of the company. André Le Bel is the Vice-President Legal Affairs and Corporate Secretary of Osisko since November 2007.
  • Hélène Cartier purchased 894 shares on December 31, 2012 pursuant to a purchase/ownership plan. Hélène Cartier currently holds 894 shares or less than 0.1% of the company. Hélène Cartier is Osisko's Vice-President Environment and Sustainable Development.
  • Luc Lessard purchased 2,798 shares on December 31, 2012 pursuant to a purchase/ownership plan. Luc Lessard currently holds 49,822 shares or less than 0.1% of the company. Luc Lessard is Osisko's Senior Vice-President and Chief Operating Officer.
  • Robert Mailhot purchased 2,799 shares on December 31, 2012 pursuant to a purchase/ownership plan. Robert Mailhot currently holds 5,432 shares or less than 0.1% of the company. Robert Mailhot is Osisko's Vice-President of Human Resources.
  • Elif Lévesque purchased 562 shares on December 31, 2012 pursuant to a purchase/ownership plan. Elif Lévesque currently holds 2,035 shares or less than 0.1% of the company. Elif Lévesque is Osisko's Vice-President and Controller.
  • Sergio Cattalani purchased 2,799 shares on December 31, 2012 pursuant to a purchase/ownership plan. Sergio Cattalani currently holds 7,003 shares or less than 0.1% of the company. Sergio Cattalani is Osisko's Vice-President of Exploration.
  • Bryan Coates purchased 20,000 shares on December 24-27, 2012 and currently holds 393,556 shares or 0.1% of the company. Bryan Coates is the Vice-President Finance and Chief Financial Officer of the Corporation.
  • Victor Bradley purchased 5,000 shares on December 21, 2012 and currently holds 30,000 shares or less than 0.1% of the company. Victor Bradley is Director and Chairman of the Board of Directors.
  • William MacKinnon purchased 10,000 shares on December 20 and currently holds 36,000 shares or less than 0.1% of the company. William MacKinnon serves as a director of the company.
  • Michèle Darling purchased 20,000 shares on December 18, 2012 and currently holds 40,000 shares or less than 0.1% of the company. Michèle Darling serves as a director of the company.

Financials

The company reported the third-quarter financial results on November 13 with the following highlights:

Revenue$158.5 million
Net income$26.2 million
Cash$114.9 million
Debt$327.9 million
Gold production0.1 million ounces

Outlook

Gold production at the Malartic gold mine continues to increase quarter-over-quarter with improvements in the milling plant. The table below outlines the steady progress towards achieving design mill throughput rates, rising availability and subsequent increase of gold production.

Tonnes per
Operating Day

Availability
(%)

Gold Production
(oz)

Q3 2012

43,181

94

103,753

Q2 2012

38,074

90

92,003

Q1 2012

35,728

87

91,178

Q4 2011

33,733

90

79,718

Q3 2011

36,742

86

73,814

Q2 2011

29,894

82

46,606

Sean Roosen, President and Chief Executive Officer of Osisko, commented the third quarter results:

"We continue to focus on ramping up our operations at Canadian Malartic to the 55,000 tonnes per day name plate capacity. We are making very good progress and are increasing our gold output and improving our profit margins. Our cash unit cost decreased by 15% during the period and we continue to benefit from robust gold market".

News

On December 28, 2012 Osisko announced the successful completion of the previously announced plan of arrangement involving Queenston (OTC:QNMNF) and Osisko whereby Osisko has acquired all of the issued and outstanding common shares of Queenston.

My analysis

The stock has a $18 price target from the Point and Figure chart. There have been 11 different insiders buying and there have not been any insiders selling the shares during the last 30 days. The stock is trading at a P/E ratio of 28.04 and the company has a book value of $4.51 per share. The company has been increasing its gold production for six consecutive quarters. The company's reserves are 10.7 million ounces of gold. I have a cautiously bullish bias for the stock currently based on the technical and fundamental picture.

3. Barrick (NYSE:ABX) is the gold industry leader in production, reserves and market capitalization. The company operates globally, with a portfolio of 27 operating mines and advanced exploration and development projects located across the world, and large land positions on some of the most prolific and prospective mineral trends.

As of December 31, 2011, Barrick's proven and probable mineral reserves were 139.9 million ounces of gold, 1.07 billion ounces of silver contained within gold reserves and 12.7 billion pounds of copper. In 2011, Barrick produced 7.7 million ounces of gold at total cash costs of $460 per ounce or net cash costs of $339 per ounce and produced 451 million pounds of copper at total cash costs of $1.75 per pound.

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Insider buys

  • Richard McCreary purchased 1,157 shares on December 31 pursuant to a purchase/ownership plan. Richard McCreary currently holds 1,735 shares or less than 0.1% of the company. Richard McCreary was appointed Senior Vice President, Corporate Development of Barrick Gold Corporation, effective April 26, 2011.
  • Ivan Mullany purchased 666 shares on December 31 pursuant to a purchase/ownership plan. Ivan Mullany currently holds 1,049 shares or less than 0.1% of the company. Ivan Mullany was appointed Senior Vice President, Capital Projects in August 2011.
  • Sybil Veenman purchased 336 shares on December 31 pursuant to a purchase/ownership plan. Sybil Veenman currently holds 707 shares or less than 0.1% of the company. Sybil Veenman was appointed Senior Vice President and General Counsel in June 2010.
  • Ammar Al-Joundi purchased 539 shares on December 31 pursuant to a purchase/ownership plan and 5,000 shares on November 5, 2012. Ammar Al-Joundi currently controls 6,539 shares or less than 0.1% of the company. Ammar Al-Joundi was appointed Executive Vice President and Chief Financial Officer on July 10, 2012.

Financials

The company reported the third-quarter financial results on November 1 with the following highlights:

Revenue$3.4 billion
Net income$0.62 billion
Cash$2.5 billion
Net debt$11.2 billion
Gold production1.78 million ounces

Outlook

The company expects 2012 gold production of 7.3-7.5 million ounces. Total cash costs for gold are anticipated to be $575-$585 per ounce. Net cash costs are anticipated to be $480-$500 per ounce.

My analysis

There have been four different insiders buying and there have not been any insiders selling the shares during the last 30 days. There are three analyst buy ratings, 10 neutral ratings and 0 sell ratings with an average target price of $59.10. The stock is trading at a P/E ratio of 10.17 and a forward P/E ratio of 6.75. The company has a book value of $25.15 per share and the stock has a 2.35% dividend yield. I have a bullish bias for the stock currently based on the fundamental picture.

Source: 3 Gold Miners With Recent Intensive Insider Buying