Altona Rare Earths Plc (LON:REE – Get Free Report) rose 12.5% on Thursday . The stock traded as high as GBX 2.29 and last traded at GBX 2.25. Approximately 6,199,057 shares traded hands during mid-day trading, a decline of 55% from the average session volume of 13,809,621 shares. The stock had previously closed at GBX 2.
Altona Rare Earths Stock Up 12.5%
The firm has a market cap of £10.03 million, a price-to-earnings ratio of -5.37 and a beta of 1.21. The business has a 50 day moving average price of GBX 2.68 and a 200-day moving average price of GBX 2.54.
Insiders Place Their Bets
In related news, insider Harvey Sinclair purchased 154,995 shares of the firm’s stock in a transaction on Friday, May 8th. The stock was purchased at an average price of GBX 3 per share, for a total transaction of £4,649.85. 12.36% of the stock is currently owned by corporate 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.
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