Bargain hunters are wise to pay careful attention to insider buying, because although there are many various reasons for an insider to sell a stock, presumably the only reason they would use their hard-earned dollars to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
At Paramount Gold & Silver Corp (AMEX:PZG), a filing with the SEC revealed that on Wednesday, Director Eliseo Gonzalez-urien purchased 100,620 shares of PZG, for a cost of $1.46 each, for a total investment of $146,905. So far Gonzalez-urien is in the green, up about 54.1% on their purchase based on today's trading high of $2.25. Paramount Gold & Silver Corp is trading off about 2.5% on the day Monday.
And also on Wednesday, Director Timothy R. Lindsey bought $63,714 worth of Revett Minerals Inc (RVM), buying 28,700 shares at a cost of $2.22 each. Before this latest buy, Lindsey purchased RVM on 6 other occasions during the past year, for a total investment of $348,175 at an average of $2.28 per share. Revett Minerals Inc is trading off about 8.8% on the day Monday.
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