It appears the growth prospects of Yamana Gold (NYSE:AUY) are too good to ignore for many of the company’s senior management team. In recent weeks, a number of transactions have taken place at or around Yamana’s current stock price, with everyone from the company’s CEO to a range of Directors and C-Suite personnel buying into the company’s long-term strategic trajectory of late.
Yamana’s precious metals mines are dispersed across the globe, with one major mine operating in Quebec and the remainder focused on South America. In Argentina, Yamana’s key gold and silver mine, Cerro Moro, stands as the company’s key prospect for future growth. With the mine still under construction, estimates are that the Argentinian mine will contribute approximately 130,000 ounces of gold in 2019 – at rising gold prices and relatively reasonable all in cash costs, the potential for impressive profitability remains.
That said, as with many other gold related concerns in the commodities sector, a multi-year reduction in the attractiveness of precious metals mining operations has dwindled demand for the stock of companies such as Yamana, providing an interesting entry point for investors to piggyback off of the bullish indicators handed down by the recent insider purchases of the company’s equity by Yamana’s executives.
While insider trading typically tells only a slice of the story, as with most industries, those in the know tend to act in bigger and more aggressive ways than the average investor when the going is good.
Invest wisely, my friends.
