Insider Buying: Altona Rare Earths (LON:REE) Insider Buys 711,712 Shares of Stock

Altona Rare Earths Plc (LON:REE) insider Cedric Simonet purchased 711,712 shares of the business’s stock in a transaction on Thursday, January 15th. The stock was acquired at an average cost of GBX 2 per share, with a total value of £14,234.24.

Altona Rare Earths Trading Down 1.4%

REE stock traded down GBX 0.02 on Thursday, hitting GBX 1.26. 5,230,871 shares of the company’s stock traded hands, compared to its average volume of 4,591,034. The stock has a market cap of £4.05 million, a price-to-earnings ratio of -2.13 and a beta of -0.15. The stock has a fifty day moving average of GBX 1.40 and a 200-day moving average of GBX 1.63. Altona Rare Earths Plc has a 1-year low of GBX 1.05 and a 1-year high of GBX 2.76.

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

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.