Altona Rare Earths (LON:REE) Shares Up 11.1% – Should You Buy?

Shares of Altona Rare Earths Plc (LON:REE) shot up 11.1% during mid-day trading on Monday . The company traded as high as GBX 3.29 and last traded at GBX 3.16. 6,136,569 shares traded hands during mid-day trading, a decline of 63% from the average session volume of 16,645,168 shares. The stock had previously closed at GBX 2.84.

Altona Rare Earths Trading Up 10.7%

The firm has a 50-day moving average of GBX 2.49 and a 200 day moving average of GBX 1.91. The stock has a market capitalization of £11.78 million, a price-to-earnings ratio of -5.33 and a beta of 0.84.

Altona Rare Earths (LON:REE) last released its quarterly earnings results on Thursday, March 26th. The company reported GBX (0.16) earnings per share for the quarter.

Insider Activity

In other news, insider Kristoffer Andersson bought 142,264 shares of the firm’s stock in a transaction dated Thursday, January 15th. The stock was acquired at an average cost of GBX 2 per share, for a total transaction of £2,845.28. Also, insider Louise Adrian purchased 546,701 shares of the stock in a transaction that occurred on Thursday, January 15th. The shares were purchased at an average cost of GBX 2 per share, with a total value of £10,934.02. Over the last three months, insiders bought 1,400,677 shares of company stock worth $2,801,354. 13.44% of the stock is currently owned by company 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.