Any time insiders within a given firm make notable share purchases, investors tend to sit up and take notice. As was the case with Canadian gold mining company B2Gold Corp. (TSX:BTO) two weeks ago when President and CEO Clive Johnson decided to purchase 100,000 shares at an average price of $3.22 per share, increasing his stake in the firm to more than 5.8 million shares.
Johnson’s stake in the firm is notable, as he has amassed a position which amounts to approximately 0.6% of the company’s float, a position which is worth more than $18.8 million.
With B2Gold’s share price appreciating more than 5% on Monday, investors have begun to see some of the upside these insiders have expected since purchasing in recent months.
Since hitting a low of below $1 in early 2016, shares of B2Gold Corp. have continued to climb, although the company’s current share price represents a discount of approximately 27% from their peak earlier this year.
B2Gold is a gold producer with four gold mines in production and one currently under construction. The company also has exploration interests around the world, and is constantly looking to add on additional mines as feasible exploration results come in.
With a number of speculative mines set to be put into production in the medium-term, investors are banking on Johnson’s expertise and the company’s management team to continue to produce long-term value and capitalize on the projects the company has underway.
Invest wisely, my friends.
