Altona Rare Earths (LON:REE) Shares Up 16.1% – What’s Next?

Shares of Altona Rare Earths Plc (LON:REE) were up 16.1% during trading on Monday . The stock traded as high as GBX 3.03 and last traded at GBX 2.95. Approximately 8,152,472 shares changed hands during mid-day trading, a decline of 49% from the average daily volume of 15,918,388 shares. The stock had previously closed at GBX 2.54.

Altona Rare Earths Trading Up 16.4%

The stock’s 50 day moving average price is GBX 1.45 and its two-hundred day moving average price is GBX 1.61. The firm has a market capitalization of £9.66 million, a PE ratio of -5.01 and a beta of -0.15.

Insider Transactions at Altona Rare Earths

In other news, insider Kristoffer Andersson bought 142,264 shares of the business’s stock in a transaction that occurred on Thursday, January 15th. The stock was purchased at an average price of GBX 2 per share, with a total value of £2,845.28. Also, insider Cedric Simonet bought 711,712 shares of Altona Rare Earths stock in a transaction on Thursday, January 15th. The stock was purchased at an average price of GBX 2 per share, for a total transaction of £14,234.24. Insiders purchased a total of 1,400,677 shares of company stock valued at $2,801,354 over the last three months. 15.42% of the stock is currently owned by insiders.

About Altona Rare Earths

Altona Rare Earth (LSE: REE) is a resource exploration and development company, specializing in Critical Raw Materials exploration and development in Africa.

The Company is currently involved in copper and silver exploration at the Sesana project in the Kalahari Copper Belt of Botswana, in rare earths exploration at the Monte Muambe project in Mozambique, and is also assessing the possibility to rapidly develop a fluorspar mining operation, also at Monte Muambe.

Monte Muambe, a significant REE mining project, is a carbonatite-hosted REE deposit.