On March 22, 2019, 10% owner Investments Scandium purchased 1,111,111 shares of Scandium International Mining Corporation (TSX:SCY), as reported in an SEC filing. The transaction represents a significant insider acquisition for the company, which specializes in the exploration and development of scandium resources.
Scandium International Mining Corp is engaged in the exploration and development of mineral properties. The company focuses on the development of scandium, rare earth minerals and other critical metals.
The shares were acquired at a price of C$0.18 per share, representing a transaction value of approximately C$200,000. This insider purchase comes at a time when the company has a market capitalization of CA$5.214 million.
The company’s current price-to-earnings ratio of 9,999.00 is significantly higher than both the industry median of 18.2 and the historical median, suggesting it is valued at a premium relative to its earnings.
There were no other insider sales reported over the past year, making this acquisition by Investments Scandium a notable event in the company’s recent trading history.
For more detailed valuation metrics such as Price to Sales Ratio, Price to Book Multiple, and Price to Free Cash Flow, investors can refer to GF Value for a comprehensive understanding of a stock’s intrinsic value.
This insider purchase can signal to shareholders and potential investors that insiders have confidence in a company’s prospects and current valuation.
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This article first appeared on GuruFocus.
