Ariana Resources (LON:AAU) Shares Up 24% – Time to Buy?

Ariana Resources plc (LON:AAU) shot up 24% on Thursday . The stock traded as high as GBX 1.25 ($0.02) and last traded at GBX 1.24 ($0.02). 6,987,652 shares changed hands during trading, an increase of 162% from the average session volume of 2,671,717 shares. The stock had previously closed at GBX 1 ($0.01).

Ariana Resources Stock Up 21.3%

The company has a 50 day simple moving average of GBX 1.17 and a two-hundred day simple moving average of GBX 1.56. The company has a market capitalization of £23.37 million, a P/E ratio of 44,925.93 and a beta of 0.65.

Ariana Resources (LON:AAU) last issued its quarterly earnings data on Tuesday, June 10th. The company reported GBX 0.18 ($0.00) earnings per share for the quarter. As a group, research analysts expect that Ariana Resources plc will post 0.2 EPS for the current fiscal year.

Insiders Place Their Bets

In other Ariana Resources news, insider Michael de Villiers bought 1,783,333 shares of the business’s stock in a transaction dated Monday, April 7th. The shares were purchased at an average price of GBX 1 ($0.01) per share, with a total value of £17,833.33 ($24,365.80). 43.73% of the stock is currently owned by insiders.

About Ariana Resources

Ariana Resources is an AIM-listed mineral exploration and development company with an exceptional track record of creating value for its shareholders through its interests in active mining projects and investments in exploration companies. Its current interests include being a gold producer in Türkiye, a major gold development project in Zimbabwe that will become the Company’s flagship project over time, and copper-gold exploration and development projects across the portfolio.