Altona Rare Earths (LON:REE) Trading Down 7% – What’s Next?

Altona Rare Earths Plc (LON:REE) traded down 7% during trading on Friday . The stock traded as low as GBX 1.16 and last traded at GBX 1.16. 495,057 shares traded hands during mid-day trading, a decline of 87% from the average session volume of 3,774,872 shares. The stock had previously closed at GBX 1.25.

Altona Rare Earths Trading Down 6.8%

The firm has a market cap of £3.75 million, a P/E ratio of -1.97 and a beta of -0.15. The company’s 50 day simple moving average is GBX 1.34 and its 200-day simple moving average is GBX 1.59.

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

Insiders Place Their Bets

In other 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 purchased 546,701 shares of the business’s stock in a transaction that occurred on Thursday, January 15th. The stock was acquired at an average price of GBX 2 per share, for a total transaction of £10,934.02. Insiders have bought 1,400,677 shares of company stock worth $2,801,354 in the last quarter. 17.02% of the stock is owned by corporate insiders.

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.