Altona Rare Earths (LON:REE) Stock Price Up 16.1% – Time to Buy?

Altona Rare Earths Plc (LON:REE) shot up 16.1% during mid-day trading on Monday . The stock traded as high as GBX 3.03 and last traded at GBX 2.95. 8,152,472 shares traded hands during trading, a decline of 49% from the average session volume of 15,918,388 shares. The stock had previously closed at GBX 2.54.

Altona Rare Earths Price Performance

The stock has a market capitalization of £9.66 million, a PE ratio of -5.01 and a beta of -0.15. The stock has a 50 day moving average of GBX 1.45 and a two-hundred day moving average of GBX 1.61.

Insider Activity

In related news, insider Louise Adrian bought 546,701 shares of the stock in a transaction on Thursday, January 15th. The shares were bought at an average cost of GBX 2 per share, for a total transaction of £10,934.02. Also, insider Kristoffer Andersson bought 142,264 shares of the company’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 £2,845.28. Insiders purchased 1,400,677 shares of company stock worth $2,801,354 in the last 90 days. 15.42% 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.