On March 22, 2019, Director James Rothwell purchased 27,800 shares of Scandium International Mining Corp (TSX:SCY) at a price of C$0.18 per share, as reported in the SEC Filing. This transaction increased the insider's stake in the company significantly.
Scandium International Mining Corp is engaged in the exploration and development of mineral properties. The company focuses on the production of scandium and other rare earth minerals. Scandium is primarily used in ceramics, electronics, lasers, lighting, and radioactive isotopes.
The purchase by the insider is noteworthy, considering the recent trading price and the market cap of the company, which stands at C$6.538 million. This transaction comes at a time when the company's price-earnings ratio is at 9999.00, significantly higher than both the industry median and the company’s historical median.
Over the past year, there have been no other insider buys or sells reported, making this acquisition by the insider a unique event in the recent transaction history of the company.
This insider buy might indicate a strong belief in the company's future prospects or undervaluation as per the GF Value. However, investors should consider all market data and the company's fundamentals before making investment decisions.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
