2 ASX 200 mining directors buying up their company shares in the past week

Insiders at these mining giants have been buying shares.

| More on:
A man wearing a shirt, tie and hard hat sits in an office and marks dates in his diary.

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

It can be useful for investors to keep an eye on which ASX 200 shares have experienced meaningful insider buying.

This is because insider buying is often regarded as a bullish indicator, as few people know a company and its intrinsic value better than its own directors. If they are buying, it suggests that they are confident in the direction the company is heading.

With that in mind, listed below are a couple of ASX 200 mining shares that reported meaningful insider buying last week. They are as follows:

BHP Group Ltd (ASX: BHP)

According to a change of director's interest notice, one of the Big Australian's non-executive directors has been topping up their shareholding.

The release notes that Gary Goldberg bought 1,000 BHP American depositary shares (ADS) through an on-market trade on 29 March. This is the equivalent of 2,000 ASX listed BHP shares.

Goldberg paid an average of US$58.3719 per ADS, which equates to a total consideration of US$58,371.90 or A$87,515.50.

This increased the non-executive director's holding to 8,000 ADS, representing 16,000 ordinary BHP shares.

Fortescue Metals Group Ltd (ASX: FMG)

Another change of director's interest notice reveals that a director of this ASX 200 iron ore giant has been buying its shares.

According to the note, Fortescue's non-executive director, Jennifer Morris OAM, picked up 652 shares through an on-market trade last week on 29 March.

Ms Morris paid a total of $14,697.75 for the parcel of shares. This equates to an average of $22.54 per Fortescue share, which is broadly in line with where they trade today.

This latest purchase increased the director's holding to a total of 21,176 Fortescue shares.

Motley Fool contributor James Mickleboro 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.

More on Materials Shares

Three miners stand together at a mine site studying documents with equipment in the background
Materials Shares

Forget BHP shares, this ASX mining stock could surge 18% higher

Let's see why this mining stock could be a buy according to analysts at Bell Potter.

Read more »

Worker looking at cement being poured out.
Materials Shares

How much upside does Macquarie tip for James Hardie shares?

While the broker is positive on the stock, some concerns remain.

Read more »

Lion holding and screaming into a yellow loudspeaker on a blue background, symbolising an announcement from Liontown.
Materials Shares

Liontown shares sink on tough quarter

This lithium miner is failing to roar on Tuesday. But why?

Read more »

Three miners looking at a tablet.
Materials Shares

Up 19% in a month: Top broker gives its verdict on the Fortescue share price

Is it too late to buy this mining giant's shares?

Read more »

woman holding two phones connected by lead
Materials Shares

Up 46% in one month! Pilbara Minerals shares lead the charge as lithium stocks rally

Are lithium stocks back in vogue?

Read more »

smiling worker stands before power generator technology
Materials Shares

Fortescue shares jump 5% on record performance

This mining giant was in fine form during the quarter.

Read more »

A man casually dressed looks to the side in a pensive, thoughtful manner with one hand under his chin, holding a mobile phone in his hand while thinking about something.
Materials Shares

Should you buy Pilbara Minerals shares today?

Let's see if analysts think investors should be buying the lithium giant's shares.

Read more »

Image of young successful engineer, with blueprints, notepad and digital tablet, observing the project implementation on construction site and in mine.
Materials Shares

Expert says this ASX mining stock could rise almost 30%

Let's see which miner is being tipped as a buy for investors right now.

Read more »