Altona Rare Earths (LON:REE) Sets New 1-Year High – Still a Buy?

Altona Rare Earths Plc (LON:REE) shares reached a new 52-week high during trading on Wednesday . The stock traded as high as GBX 4.40 and last traded at GBX 4.04, with a volume of 46463996 shares changing hands. The stock had previously closed at GBX 3.95.

Altona Rare Earths Trading Up 2.2%

The company has a 50 day simple moving average of GBX 2.92 and a 200 day simple moving average of GBX 2.03. The stock has a market capitalization of £17.33 million, a PE ratio of -9.64 and a beta of 0.99.

Altona Rare Earths (LON:REE) last posted its quarterly earnings data on Thursday, March 26th. The company reported GBX (0.16) EPS for the quarter.

Insider Buying and Selling at Altona Rare Earths

In other Altona Rare Earths news, insider Kristoffer Andersson bought 142,264 shares of the business’s stock in a transaction dated Thursday, January 15th. The stock was acquired at an average cost of GBX 2 per share, with a total value of £2,845.28. Also, insider Cedric Simonet bought 711,712 shares of the business’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 £14,234.24. Insiders purchased a total of 1,400,677 shares of company stock valued at $2,801,354 in the last ninety days. Insiders own 13.44% of the company’s stock.

Altona Rare Earths Company Profile

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.