Alphamin Resources (CVE:AFM) Share Price Passes Below Fifty Day Moving Average – Here’s Why

Alphamin Resources Corp. (CVE:AFM) shares crossed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of C$1.29 and traded as low as C$1.29. Alphamin Resources shares last traded at C$1.31, with a volume of 1,115,406 shares traded.

Alphamin Resources Price Performance

The firm has a market cap of C$1.68 billion, a PE ratio of 8.94 and a beta of 0.80. The stock’s fifty day moving average price is C$1.29 and its 200-day moving average price is C$1.25. The company has a debt-to-equity ratio of 11.57, a current ratio of 2.31 and a quick ratio of 2.03.

Insider Activity at Alphamin Resources

In related news, Director Charles Denby Stockton Needham sold 200,000 shares of the stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of C$1.44, for a total value of C$288,000.00. Following the completion of the sale, the director owned 1,499,214 shares of the company’s stock, valued at approximately C$2,158,868.16. This trade represents a 11.77% decrease in their ownership of the stock. Also, Director John Mackinnon Robertson sold 345,400 shares of the business’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of C$1.45, for a total value of C$500,830.00. In the last ninety days, insiders sold 2,843,000 shares of company stock valued at $4,092,000. Insiders own 58.59% of the company’s stock.

Alphamin Resources Company Profile

Alphamin Resources Corp., together with its subsidiaries, engages in the production and sale of tin concentrates. Its principal project is the Bisie tin mine located in the Democratic Republic of Congo. The company was formerly known as La Plata Gold Corporation and changed its name to Alphamin Resources Corp. in October 2008. Alphamin Resources Corp. was incorporated in 1981 and is headquartered in Grand Baie, Mauritius.