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

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.

The post 2 ASX 200 mining directors buying up their company shares in the past week appeared first on The Motley Fool Australia.

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More reading

• Here are the top 10 ASX 200 shares today
• Why did the BHP share price see-saw in March?
• Bought $9,000 of Fortescue shares in 2018? Here’s how much passive income you’ve pocketed
• Why did the BHP share price have such a top run today?
• ASX shares are paying out $19 billion in dividends this week. Are you getting a piece?

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.

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