We take a look at directors buying and selling shares in their own company in our weekly column.
- Rolls Royce non-exec buys 9,847 shares
- Drax CFO buys 13,246 shares
- Non-exec Chairman buys 28,370 shares in Ecora Resources
- Genus CFO increases beneficial holding
- Non-exec buys 24,755 shares in Petra Diamonds
Here’s why Director Dealings can play an important role in stock-picking
Rolls Royce LON:RR. Non-Executive Director, Dame Angela Strank purchased on 24th February 9,847 shares at a price of 125.98p for a total consideration of £12,405.25. The FTSE 100 defence and aerospace business released full year results on 23rd February highlighting improved profit and cash in 2022; and a transformation programme in place to deliver further performance improvements from 2023. This has given the Rolls Royce share price a significant boost this week.
At the time of writing, shares were trading at 145p, up 46% this year and +40% over the last 12 months.
Drax LON:DRX CFO Andy Skelton has purchased on 23 February 2023 8,026 shares at an aggregate price of 644.6p and 5,220 shares at an aggregate price of 643.2p for a total consideration of £85,310. Shares in the sustainable power business were slipping this week following its latest set of results which showed that while reported sales beat market expectations, investors were surprised to see statutory EPS miss by a staggering 75%.
The Drax share price was at 634.5p, down 5.5% this year and -10% over the last 12 months,
Ecora Resources PLC [LON:ECOR] Non-Executive Chairman Patrick Meier has purchased on 23 February 28,370 shares at price of 138.74p per share for a total consideration of £39,360. The royalty and streaming company published an update on its Kestrel mine last month noting that saleable production during Q4 2022 was “impacted by reduced mining rates and operational constraints that limited throughput volumes at the handling and preparation plant, and could be expected to continue into 2023.”
The Ecora share price was at 134.6p, down 9.4% this year and -4.7% over the last 12 months,
- UK Stock Market News: Whitbread, Rolls-Royce, Lloyds
- Investors piling into defence stocks as Germany spends big
- Petra Diamonds posts $69m loss as leadership changes spark restructuring
Genus LON:GNS Chief Financial Officer, Alison Henriksen has purchased through her husband Per Henriksen 3,376 shares at an average price of 2,946.3p for a total consideration of £99,467. The FTSE 250 biotech business released its interim results this week with revenue up 13% on a constant currency rate and operating profit up 9%. PIC delivered a new record half year performance with the business highlighting “strong momentum in North America in particular, and China’s performance improved as the porcine market began a gradual recovery from the cyclical downturn”
At the time of writing, the Genus share price was at 2924p, down 3% this year and -11% over the last 12 months,
Petra Diamonds LON:PDL Senior Independent Non-Executive Director and Chair of Petra’s Remuneration Committee, Varda Shine has purchased on 27th February, 24,755 shares at an average price of 80.6p per share for a total cost of £19,953. The diamond mining group warned of operational challenges in the first half of 2023 but noted in its interim results released last week that the business is on track to meet its recent production guidance. Chief Executive Richard Duffy commented that demand for luxury goods remaining robust in the USA and the ending of lock-down restrictions in China will “benefit diamond pricing in the near to medium term”.
The Petra Diamonds share price was at 81.22p, down 18% this year and -22% over the last 12 months.
