Pick Up Shares Of ZINC Cheaper Than The CEO Did

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 12, Horsehead Holding Corp's CEO, James M. Hensler, invested $63,500.00 into 5,000 shares of ZINC, for a cost per share of $12.70. 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.

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In trading on Tuesday, bargain hunters could buy shares of Horsehead Holding Corp ( ZINC) and achieve a cost basis even cheaper than Hensler, with shares changing hands as low as $12.64 per share. Horsehead Holding Corp shares are currently trading down about 1.9% on the day. The chart below shows the one year performance of ZINC shares, versus its 200 day moving average:

Horsehead Holding Corp Chart

Looking at the chart above, ZINC's low point in its 52 week range is $11.88 per share, with $21.02 as the 52 week high point — that compares with a last trade of $12.65. By comparison, below is a table showing the prices at which ZINC insider buying was recorded over the last six months:

Purchased Insider Title Shares Price/Share Value
05/12/2015 James M. Hensler President & CEO 5,000 $12.70 $63,500.00

According to the ETF Finder at ETF Channel, ZINC makes up 1.66% of the SPDR S&P Metals and Mining ETF ( XME) which is trading lower by about 2.8% on the day Tuesday.

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