Snatch This Cheap Metals Stock Even Lower Than Director Miller Did

By Metals Channel Staff, Wednesday, May 19, 9:58 AM ET

There's an old saying on Wall Street about insider buying: there are many possible reasons to sell a stock, but only one reason to buy. Back on May 14, Cleveland-Cliffs Inc 's Director, Janet L. Miller, invested $24,940.80 into 1,280 shares of CLF, for a cost per share of $19.48. Bargain hunters tend to pay particular attention to insider buys like this one, because presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money.

In trading on Wednesday, bargain hunters could buy shares of Cleveland-Cliffs Inc (NYSE:CLF) and achieve a cost basis 1.4% cheaper than Miller, with shares changing hands as low as $19.21 per share. Cleveland-Cliffs Inc shares are currently trading down about 3.7% on the day. The chart below shows the one year performance of CLF shares, versus its 200 day moving average:

Cleveland-Cliffs Inc  Chart

Looking at the chart above, CLF's low point in its 52 week range is $4.4323 per share, with $22.895 as the 52 week high point — that compares with a last trade of $19.24. By comparison, below is a table showing the prices at which CLF insider buying was recorded over the last six months:

Purchased Insider Title Shares Price/Share Value
03/05/2021 Keith Koci EVP, Chief Financial Officer 15,000 $13.45 $201,735.00
05/14/2021 Janet L. Miller Director 1,280 $19.48 $24,940.80

Special Offer: Join the income investing conversation on with a special Seven Days for Seven Dollars invitation.

This Article's Word Cloud:   Back   Bargain   Cheaper   Chief   Cleveland   Cliffs   Days   Director   Dollars   Financial   Insider   Insiders   Janet   Join   Keith   Koci   Looking   Metals   Miller   NYSE   Offer   Officer   Price   Purchased   Seven   Share   Shares   Special   Start   Stocks   Street   about   below   buying   chart   cost   hunters   insider   last   only   point   reason   share   shares   stock   that   their   trading   week   with

Snatch This Cheap Metals Stock Even Lower Than Director Miller Did |

Copyright © 2010 - 2021, All Rights Reserved Nothing in Metals Channel is intended to be investment advice, nor does it represent the opinion of, counsel from, or recommendations by BNK Invest Inc. or any of its affiliates, subsidiaries or partners. None of the information contained herein constitutes a recommendation that any particular security, portfolio, transaction, or investment strategy is suitable for any specific person. All viewers agree that under no circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held liable for any loss or damage caused by your reliance on information obtained. By visiting, using or viewing this site, you agree to the following Full Disclaimer & Terms of Use and Privacy Policy. Video widget and metals videos powered by Market News Video. Quote data delayed at least 20 minutes; data powered by Ticker Technologies, and Mergent. Contact Metals Channel; Meet Our Editorial Staff.