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Welcome to HotCopper’s Director Trades column, where we take a look at all the most interesting director transactions from across the past week and break down the details. This week, we’ll look at September 19-25.
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Directors legally have five business days to notify the ASX of their trades, so some transactions may be recorded after this article was written and published.
1. Genesis Minerals
Geneis Minerals (ASX:GMD) popped up twice quite high up in the transactions made by directors through to September 25, with Raleigh Finlayson and Michael Bowen both exercising options to pick up stock.
Between them, Mr Finlayson and Mr Bowen collected another 10 million shares between them; chief Finlayson walking away with the lion’s share. After activating his options – which had been due to expire in late November – the Genesis helmsman pocketed as much as $56 million in the flourishing gold miner.
No real shock here: Gold miner Genesis has been on the rise for some time, even cracking the S&P/ASX 100 last week as it continues to grow in prominence.
Both Genesis bosses must have wanted greater exposure to the action; GMD closed last Friday at $5.75. Today, it’s another +4% higher.
2. New Hope Corporation
Robert Miller, the New Hope Corporation (ASX:NHC) chairman, made the biggest on-market move through this last week: He picked up 25,000 more shares in the coal producer, paying around $4/sh for $10.5M all up.
The move brings his equity holdings in the corp up to a lofty 279K shares. He’s also invested in SolPatts, TPG Telecom, BKI Investment, and Brickworks.
As for why – New Hope dipped somewhat in Week 38 after sharing lower earnings expectations impacted by reduced coal prices. While that’s not the most dovish news for the producer, Mr Miller may be buying in cheaper.
Long haul has always been the name of the game for the NHC chairman, who’s been involved since December 1995, so short-term dips likely don’t bother him.
Today, NHC shares are at $4.13 each, up +1.98% today.
3. Cettire Ltd
Dean Mintz’s Cettire (ASX:CTT) buy-up rounds out the podium picks in this Director Trades column this week. The online luxury retailer’s chief scooped up $5.5M more shares in the company he leads, at 50.8cps.
Cettire was added to the “Emerging Companies” list just recently, so Mr Mintz may have been capitalising on that to grab more before a price rise.
The retailer did just post a net loss of $2.65 million in its latest earnings, so its not all been rosy for the company; it increased annual sales to $742 million, however, which may be what the CEO was looking at over the FY25 losses.
Worth noting, Cettire did just double Mr Mintz’s pay packet back in late August, to $850,000, despite a “horror year” for the company. (Maybe he just had some more spending money after that first bumped pay.)
This arvo, CTT shares are selling at 72c each.
Catching up
No standout reports that we didn’t already catch in last week’s Director Trades, though we’ll keep an eye out and update this article if something pops.
That’s this week’s Director Trades – we’ll be back with more next Friday.
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