On March 22, 2019, Warren Davis, Director at Scandium International Mining Corp (TSX:SCY), purchased 27,778 shares of the company. The transaction was documented in an SEC Filing. This insider buy reflects a notable investment in the company's stock, as the insider transaction history over the past year shows no other insider buys.
Scandium International Mining Corp is engaged in the exploration and development of mineral properties. The focus is primarily on scandium, rare earth minerals, and other critical metals. This strategic acquisition of shares by a key director suggests a commitment to the company's future.
On the date of the purchase, shares of Scandium International Mining Corp were priced at C$0.18 each, resulting in a market cap of approximately C$5.223 million. Despite the high price-earnings ratio of 9999.00, which significantly exceeds both the industry median and the company's historical median, the insider has increased their stake in the company.
For more detailed valuation metrics such as price-sales ratio, price-book ratio, and price-to-free cash flow, investors can refer to the GF Value for a comprehensive analysis.
This insider purchase could be a signal to shareholders and potential investors about the insider's confidence in the future prospects of Scandium International Mining Corp.
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