Altona Rare Earths (LON:REE) Shares Down 1.4% – Here’s What Happened

Altona Rare Earths Plc (LON:REE)’s share price was down 1.4% during mid-day trading on Tuesday . The stock traded as low as GBX 1.45 and last traded at GBX 1.45. Approximately 1,739,733 shares changed hands during mid-day trading, a decline of 52% from the average daily volume of 3,621,036 shares. The stock had previously closed at GBX 1.48.

Altona Rare Earths Stock Performance

The stock’s 50-day moving average is GBX 1.79 and its 200 day moving average is GBX 1.75. The stock has a market capitalization of £4.24 million, a PE ratio of -2.46 and a beta of -0.15.

Altona Rare Earths (LON:REE) last announced its quarterly earnings results on Monday, October 27th. The company reported GBX (0.59) earnings per share for the quarter.

Insider Activity at Altona Rare Earths

In other news, insider Louise Adrian sold 2,609,345 shares of the business’s stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of GBX 1, for a total value of £26,093.45. Company insiders own 17.02% 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.