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Bargain Bin Stocks: CLF Now 12.4% Cheaper Than Director Ross's Buy

By Metals Channel Staff, Tuesday, November 29, 12:38 PM ET
Play Video: One Reason For Insiders to Buy


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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 August 10, Cliffs Natural Resources, Inc.'s Director, Richard Andrew Ross, invested $211,980.00 into 3,000 shares of CLF, for a cost per share of $70.66. 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 Tuesday, bargain hunters could buy shares of Cliffs Natural Resources, Inc. (NYSE:CLF) and achieve a cost basis 12.4% cheaper than Ross, with shares changing hands as low as $61.90 per share. It should be noted that Ross has collected $0.56/share in dividends since the time of their purchase, so they are currently down 11.6% on their purchase from a total return basis. Cliffs Natural Resources, Inc. shares are currently trading up about 1.4% on the day. The chart below shows the one year performance of CLF shares, versus its 200 day moving average:

Cliffs Natural Resources, Inc. Chart

Looking at the chart above, CLF's low point in its 52 week range is $47.31 per share, with $102.48 as the 52 week high point that compares with a last trade of $63.70. By comparison, below is a table showing the prices at which insider buying was recorded over the last six months:

Purchased Insider Title Shares Price/Share Value
08/01/2011 Andres Gluski Director 1,130 $88.42 $99,911.21
08/01/2011 P. Kelly Tompkins EVP Legal Govt. Aff.& Sustain. 2,500 $89.17 $222,933.25
08/10/2011 Richard Andrew Ross Director 3,000 $70.66 $211,980.00

The current annualized dividend paid by Cliffs Natural Resources, Inc. is $1.12/share, currently paid in quarterly installments, and its most recent dividend ex-date was on 11/16/2011. Below is a long-term dividend history chart for CLF, which can be of good help in judging whether the most recent dividend with approx. 1.8% annualized yield is likely to continue.

According to the ETF Finder at ETF Channel, CLF makes up 4.60% of the Steel ETF (AMEX:SLX) which is trading lower by about 0.2% on the day Tuesday.

See what other ETFs contain CLF
See what other stocks are held by SLX

CLF operates in the Non-Precious Metals & Non-Metallic Mining sector, among companies like Vale S. A. (NYSE:VALE) which is down about 1.4% today, and BHP Billiton Ltd. (NYSE:BHP) trading higher by about 0.3%. Below is a three month price history chart comparing the stock performance of CLF, versus VALE and BHP.

CLF,VALE,BHP Relative Performance Chart


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