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| Top Buys by Directors: Thompson's $186K Bet on GSSBy Metals Channel Staff, Wednesday, August 15, 1:14 PM ET
The directors of a company tend to have a unique inside view into the business, so when directors make major buys, investors are wise to take notice. Presumably the only reason a director of a company would choose to take their hard-earned cash and use it to buy stock in the open market, is that they expect to make money — maybe they find the stock very undervalued, or maybe they see exciting progress within the company, or maybe both. So in this series we look at the largest insider buys by company directors over the trailing six month period, one of which was a total of $186K by Christopher M.T. Thompson, Director at Golden Star Resources Ltd. (AMEX:GSS). Thompson bets big on GSS:
Thompson's average cost works out to $0.93/share. Shares of Golden Star Resources Ltd. were changing hands at $1.25 at last check, trading off about 0.8% on Wednesday. The chart below shows the one year performance of GSS shares, versus its 200 day moving average:
Looking at the chart above, GSS's low point in its 52 week range is $0.90 per share, with $2.78 as the 52 week high point — that compares with a last trade of $1.25. According to the ETF Finder at ETF Channel, GSS makes up 1.04% of the Junior Gold Miners ETF (AMEX:GDXJ) which is trading lower by about 0.2% on the day Wednesday. See what other ETFs contain GSS » Special Offer: Small cap value stocks have outperformed the markets since the end of the recession — see what you've been missing with this free 30 day trial Relevant Stock Market Definitions Exchange Traded Fund Definition, The Importance of ETFs, Form 4 Definition, The Importance of Insider Buying, Price-To-Earnings Definition
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One Reason For Insiders to Buy
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