Altona Rare Earths (LON:REE) Shares Up 11.1% – Here’s What Happened

Shares of Altona Rare Earths Plc (LON:REE) were up 11.1% during mid-day trading on Monday . The stock traded as high as GBX 3.29 and last traded at GBX 3.16. Approximately 6,136,569 shares were traded during trading, a decline of 63% from the average daily volume of 16,645,168 shares. The stock had previously closed at GBX 2.84.

Altona Rare Earths Trading Up 10.7%

The company has a market capitalization of £11.78 million, a price-to-earnings ratio of -5.33 and a beta of 0.84. The stock has a 50-day simple moving average of GBX 2.49 and a 200-day simple moving average of GBX 1.91.

Altona Rare Earths (LON:REE) last released its quarterly earnings results on Thursday, March 26th. The company reported GBX (0.16) earnings per share for the quarter.

Insider Buying and Selling at Altona Rare Earths

In related news, insider Cedric Simonet acquired 711,712 shares of the firm’s stock in a transaction on Thursday, January 15th. The stock was bought at an average cost of GBX 2 per share, with a total value of £14,234.24. Also, insider Louise Adrian bought 546,701 shares of the company’s stock in a transaction dated Thursday, January 15th. The stock was bought at an average cost of GBX 2 per share, with a total value of £10,934.02. Insiders have purchased 1,400,677 shares of company stock worth $2,801,354 in the last ninety days. 13.44% of the stock is 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.