Altona Rare Earths (LON:REE) Reaches New 12-Month High – Still a Buy?

Shares of Altona Rare Earths Plc (LON:REE) reached a new 52-week high on Friday . The company traded as high as GBX 4.07 and last traded at GBX 3.96, with a volume of 45824492 shares trading hands. The stock had previously closed at GBX 3.05.

Altona Rare Earths Stock Up 29.8%

The business’s 50 day simple moving average is GBX 1.61 and its 200 day simple moving average is GBX 1.66. The stock has a market cap of £12.94 million, a price-to-earnings ratio of -6.71 and a beta of -0.15.

Insider Buying and Selling

In related news, insider Cedric Simonet acquired 711,712 shares of the firm’s stock in a transaction on Thursday, January 15th. The shares were purchased at an average cost of GBX 2 per share, for a total transaction of £14,234.24. Also, insider Louise Adrian bought 546,701 shares of Altona Rare Earths stock in a transaction that occurred on Thursday, January 15th. The shares were bought at an average cost of GBX 2 per share, with a total value of £10,934.02. In the last three months, insiders have acquired 1,400,677 shares of company stock valued at $2,801,354. 15.42% of the stock is owned by 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.