This ASX 200 coal share is up 170% in a year. But one director is still buying

This insider appears bullish on the top performing stock.

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Key points

  • Shares in ASX 200 coal producer New Hope have rocketed 170% since this time last year to trade at $6.27 today
  • That means the company's non-executive director Jacqueline McGill scored a bargain buy last week
  • She snapped up 10,000 shares in the company on-market for $5.88 apiece on Friday

It's been a good year for S&P/ASX 200 Index (ASX: XJO) coal share New Hope Corporation Limited (ASX: NHC).

Right now, the New Hope share price is $6.27. That's up from just $2.32 this time last year – marking a 170.25% gain over the last 12 months. For comparison, the ASX 200 has slumped 3.8% in that same period.

New Hope also came in as the ASX 200's second-best performing share of 2022, behind industry peer Whitehaven Coal Ltd (ASX: WHC).

And there might be more gains in the coal producer's future if recent insider buying is anything to go by. Let's take a closer look at the director bolstering their stake in the company this month.

The director buying their ASX 200 coal company's shares

Insider buying is generally thought to be a sign those in the know expect a stock to grow in the future.

Thus, fans of ASX 200 coal shares might be excited to learn of a near $59,000 purchase of New Hope stock by the company's non-executive director Jacqueline McGill.

McGill forked out to buy more than 10,000 new securities in the company, paying $5.88 apiece on Friday. That leaves the director with 60,000 New Hope shares.

It's the second time in 12 months McGill has topped up her investment. She bought 20,000 shares on-market in June 2022, paying an average of $3.655 apiece.

That buy has already seen the insider realise a whopping 70% return on investment (ROI), before considering dividends.

New Hope offered two ordinary dividends – worth a combined 48 cents per share – and two special dividends – totalling 38 cents per share – last year.

That leaves the ASX 200 coal share trading with a 7.7% trailing dividend yield at the time of writing.

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Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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