by Ian Cooper
One of the best ways to spot potential opportunity is by tracking insiders.
After all, who knows the company better than an insider – the CEO, CFO, COO, officers, employees, and directors? If they’re buying a sizable number of shares, it’s often a good idea to start looking into why and perhaps follow them into the stock.
That’s because they’re typically privy to information on new products, competition, and the operating environment of the firm. We have to consider that insiders who are buying their stock wouldn’t put up their own money unless they believed the move would be profitable. Of course, it’s not always wise to base your own buying decisions solely on the actions of insiders.
But it can help guide your next investment decision.
Freeport McMoRan (FCX)
After dropping with declining copper prices, and an earnings report miss, a bottom may finally be in place for the metal and the stock. According to Bloomberg, “Energy research firm Bloomberg NEF recently published its first global copper outlook, factoring in demand from the technological changes needed to wean the economy off fossil fuels. Its topline finding is striking: Copper demand will increase by more than 50% between now and 2040.”
Helping, ConocoPhillips CEO and FCX Director, Ryan Lance just bought $988,300 worth of FCX stock at an average price of $31.88 each.
Intel Corp. (INTC)
Intel could be one of the top beneficiaries of the $280 billion CHIPS and Science Act. Also, Intel CEO Pat Gelsinger just bought more stock. According to a US SEC filing, he paid $501,153 for 14,800 shares. This is now his third investment in INTC this year. While markets and tech stocks are taking a hit, INTC does have some encouraging catalysts.
Lockheed Martin Corp. (LMT)
Lockheed Martin Corp. (LMT) has had a strong year so far. After skyrocketing to about $480, the stock pulled back to about $418, where it’s trying to push higher. Helping, Director John Donovan just bought 632 shares of LMT for $250,400, at an average price of about $396.16 each. The last time insiders bought LMT was August 19, with Director James Taiclet buying 1,354 shares for $509,500.