Cliffs Sees 2 Insider Buys Since Earnings Slump

Shares of Cliffs Natural Resources Inc (NYSE: CLF) fell more than 18 percent after reporting Q3 results on October 27.

The company reported Q3 EPS $(0.12) versus $(0.10) in the same quarter last year, and sales of $553.3 million versus the $581 million estimate.

Insiders buying and selling stock can be an indicator to investors of what those insiders think their company’s stock price will do. According to data compiled by Benzinga Pro, Cliffs Natural Resources had seen two insider purchases since their earnings report and the share price plunge:

• Tuesday: Director J. Baldwin acquired 10,000 shares at $5.49/share, increasing his stake by $54,900.
• Thursday: Director E. Rychel acquired 5,000 shares at $5.55/share, increasing her stake by $27,750.