Altona Rare Earths (LON:REE) Trading 7.7% Higher – Time to Buy?

Altona Rare Earths Plc (LON:REE) rose 7.7% during mid-day trading on Tuesday . The stock traded as high as GBX 1.40 and last traded at GBX 1.40. Approximately 10,003,980 shares were traded during mid-day trading, an increase of 104% from the average daily volume of 4,908,203 shares. The stock had previously closed at GBX 1.30.

Altona Rare Earths Trading Up 7.3%

The stock has a 50-day simple moving average of GBX 1.34 and a 200 day simple moving average of GBX 1.58. The company has a market cap of £4.49 million, a price-to-earnings ratio of -2.36 and a beta of -0.15.

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

Insider Buying and Selling

In other Altona Rare Earths news, insider Kristoffer Andersson acquired 142,264 shares of the company’s stock in a transaction dated Thursday, January 15th. The shares were acquired at an average cost of GBX 2 per share, with a total value of £2,845.28. Also, insider Cedric Simonet acquired 711,712 shares of the business’s stock in a transaction dated Thursday, January 15th. The stock was acquired at an average price of GBX 2 per share, for a total transaction of £14,234.24. In the last quarter, insiders have acquired 1,400,677 shares of company stock worth $2,801,354. 17.02% of the stock is 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.