Altona Rare Earths (LON:REE) Trading Up 13% – Still a Buy?

Shares of Altona Rare Earths Plc (LON:REE) were up 13% during trading on Thursday . The stock traded as high as GBX 2.59 and last traded at GBX 2.49. Approximately 4,301,289 shares were traded during trading, a decline of 71% from the average daily volume of 14,703,061 shares. The stock had previously closed at GBX 2.20.

Altona Rare Earths Stock Performance

The company’s 50-day moving average is GBX 3.18 and its 200 day moving average is GBX 2.35. The company has a market capitalization of £11.50 million, a PE ratio of -6.18 and a beta of 1.26.

Altona Rare Earths (LON:REE) last announced its quarterly earnings data on Thursday, March 26th. The company reported GBX (0.16) EPS for the quarter.

Insider Buying and Selling

In other news, insider Harvey Sinclair acquired 154,995 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The shares were bought at an average cost of GBX 3 per share, with a total value of £4,649.85. Company insiders own 13.44% of the company’s stock.

Altona Rare Earths Company Profile

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.