Aclara Resources (TSE:ARA) Hits New 52-Week High – Time to Buy?

Aclara Resources Inc. (TSE:ARA)’s share price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as C$5.38 and last traded at C$5.35, with a volume of 106630 shares. The stock had previously closed at C$4.96.

Aclara Resources Price Performance

The company has a quick ratio of 32.13, a current ratio of 2.60 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of C$1.25 billion, a price-to-earnings ratio of -128.75 and a beta of 0.60. The stock’s 50 day moving average price is C$3.63 and its two-hundred day moving average price is C$3.16.

Aclara Resources (TSE:ARA) last posted its quarterly earnings results on Thursday, May 7th. The company reported C($0.01) earnings per share for the quarter.

Insider Buying and Selling at Aclara Resources

In related news, Director Jorge Born purchased 166,800 shares of the company’s stock in a transaction dated Wednesday, April 1st. The shares were acquired at an average cost of C$3.39 per share, with a total value of C$565,452.00. Following the completion of the purchase, the director owned 329,241 shares of the company’s stock, valued at C$1,116,126.99. The trade was a 102.68% increase in their position. Company insiders own 96.93% of the company’s stock.

About Aclara Resources

Aclara Resources Inc (TSX: ARA), a Toronto Stock Exchange listed company, is focused on building a vertically integrated supply chain for rare earths alloys used in permanent magnets. This strategy is supported by Aclara’s development of rare earth mineral resources hosted in ionic clay deposits, which contain high concentrations of the scarce heavy rare earths, providing the Company with a long-term, reliable source of these critical materials. The Company’s rare earth mineral resource development projects include the Carina Project in the State of Goiás, Brazil as its flagship project and the Penco Module in the Biobío Region of Chile.