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| Snatch This Cheap Metals Stock Even Lower Than SVP, Strategy & Business Dev't Aboud DidBy Metals Channel Staff, Friday, August 25, 11:12 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 11, Century Aluminum Co.'s SVP, Strategy & Business Dev't, Matt Aboud, invested $130,500.00 into 18,000 shares of CENX, for a cost per share of $7.25. 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 Friday, bargain hunters could buy shares of Century Aluminum Co. (NASDAQ:CENX) and achieve a cost basis even cheaper than Aboud, with shares changing hands as low as $7.20 per share. Century Aluminum Co. shares are currently trading down about 1.8% on the day. The chart below shows the one year performance of CENX shares, versus its 200 day moving average:
Looking at the chart above, CENX's low point in its 52 week range is $5.27 per share, with $12.965 as the 52 week high point — that compares with a last trade of $7.21. By comparison, below is a table showing the prices at which CENX insider buying was recorded over the last six months:
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