John Power, President and CEO of Athena Gold Corp (OTC:AHNR), recently acquired 590,000 shares of the company's common stock on October 25. The shares were purchased at a price of $0.036 each, totaling approximately $21,240. Following this transaction, Power directly owns 12,259,239 shares of Athena Gold.
In addition to the common stock acquisition, Power also engaged in a derivative transaction involving common stock warrants. These warrants were acquired at a price of $0.086 per share, covering 295,000 underlying shares, with an expiration date set for October 25, 2027. Power's total holdings now include various forms of stock and warrants, reflecting his continued investment in the company.
InvestingPro Insights
John Power's recent acquisition of Athena Gold Corp (OTC:AHNR) shares aligns with several intriguing metrics and trends revealed by InvestingPro data. The company's market capitalization stands at a modest $7.16 million, positioning it firmly in the micro-cap category. This small size could explain the CEO's significant stake and recent increase in holdings.
InvestingPro Tips highlight that AHNR is trading at a low P/E ratio relative to its near-term earnings growth, with a PEG ratio of 0.56 for the last twelve months as of Q2 2024. This suggests the stock may be undervalued compared to its growth prospects, potentially influencing Power's decision to increase his position.
The company has shown strong performance recently, with a 23.1% price return over the past month and an impressive 52.74% year-to-date return. This positive momentum might have contributed to the CEO's confidence in acquiring additional shares and warrants.
It's worth noting that AHNR operates with a moderate level of debt and does not pay dividends to shareholders, according to InvestingPro Tips. These factors could indicate that the company is reinvesting its profits for growth, which aligns with the CEO's apparent bullish stance on the company's future.
For investors seeking a more comprehensive analysis, InvestingPro offers 7 additional tips for AHNR, providing a deeper understanding of the company's financial health and market position.
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