- Four insiders, including the CEO and CFO, purchased Richmont Mines stock within the last 30 days.
- The stock was sold by no insiders in the month of intensive purchasing.
- All four of these insiders increased their holdings by more than 10%.
Richmont Mines (NYSEMKT:RIC) is engaged in the mining, exploration, and development of mining properties, primarily gold in Canada.
Insider buying during the last 30 days
Here is a table of Richmont Mines' insider activity during the last 30 days.
|Name||Title||Trade Date||Shares Purchased||Prospectus||Current Ownership||Increase In Shares|
|Paul Carmel||CEO||April 23||70,000||Yes||133,000 shares||+111.1%|
|James Gill||Director||April 23||200,000||Yes||200,000 shares||from 0 to 200,000|
|Michael Pesner||Director||April 23||10,000||Yes||10,000 shares||from 0 to 10,000|
|Pierre Rougeau||CFO||April 23||40,000||Yes||40,000 shares||from 0 to 40,000|
There have been 320,000 shares purchased by insiders during the last 30 days. All these shares were purchased pursuant to a bought deal financing.
Insider buying by calendar month
Here is a table of Richmont Mines' insider activity by calendar month.
|Month||Insider buying / shares||Insider selling / shares|
There have been 365,900 shares purchased, and there have been 66,500 shares sold by insiders since January 2013. The month of April 2014 has seen the most insider buying.
Richmont Mines reported the full-year 2013 financial results on February 20 with the following highlights:
|Revenue||90.2 million CAD|
|Net loss||33.2 million CAD|
|Cash||17.6 million CAD|
|Debt||6.0 million CAD|
|Gold production||63,443 ounces|
|Cash cost||$1,095 per ounce|
On April 23, Richmont Mines closed a 11.7 million CAD financing.
Richmont Mines' 2014 production forecast is 70,000 to 80,000 ounces of gold.
|Qtrly Rev Growth (yoy):||0.12||-0.29||0.94|
Richmont Mines has the lowest P/S ratio among these three companies.
Here is a table of these competitors' insider activities this year.
|Company||Insider buying / shares||Insider selling / shares|
Only Richmont Mines has seen intensive insider buying during the last 30 days.
There have been four different insiders buying Richmont Mines, and there have not been any insiders selling Richmont Mines during the last 30 days. All four of these insiders increased their holdings by more than 10%. Richmont Mines has an insider ownership of 9.14%.
The four insiders purchased their shares at $1.32 (1.45 CAD). I believe Richmont Mines could be a good pick below $1.32 based on the intensive insider buying.
Editor's Note: This article covers a stock trading at less than $1 per share and/or with less than a $100 million market cap. Please be aware of the risks associated with these stocks.