MetalsChannel.com

Cleveland-Cliffs Shares Slide 11.2% Below Miller's Purchase Price

By Metals Channel Staff, Thursday, December 1, 3:26 PM 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 September 8, Cleveland-Cliffs Inc's Director, Janet L. Miller, invested $24,865.40 into 1,425 shares of CLF, for a cost per share of $17.45. 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 Thursday, bargain hunters could buy shares of Cleveland-Cliffs Inc (NYSE:CLF) and achieve a cost basis 11.2% cheaper than Miller, with shares changing hands as low as $15.49 per share. Cleveland-Cliffs Inc shares are currently trading up about 1.5% 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 $11.825 per share, with $34.04 as the 52 week high point — that compares with a last trade of $15.71. 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
08/16/2022 Celso L. Goncalves Jr. EVP, CFO 5,000 $19.36 $96,799.50
08/17/2022 Celso L. Goncalves Jr. EVP, CFO 6,000 $18.43 $110,579.40
09/08/2022 Janet L. Miller Director 1,425 $17.45 $24,865.40
Special Offer: Join the income investing conversation on ValueForum.com with a special Seven Days for Seven Dollars invitation.

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

Cleveland-Cliffs Shares Slide 11.2% Below Miller's Purchase Price | www.MetalsChannel.com

Copyright © 2010 - 2024, 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.