African Rainbow Minerals (OTCMKTS:AFBOF) Trading Down 2% – Here’s Why

Shares of African Rainbow Minerals Limited (OTCMKTS:AFBOF) traded down 2% during mid-day trading on Friday . The stock traded as low as $14.70 and last traded at $14.70. 100 shares were traded during mid-day trading, a decline of 77% from the average session volume of 443 shares. The stock had previously closed at $15.00.

African Rainbow Minerals Price Performance

The stock has a fifty day simple moving average of $14.82 and a two-hundred day simple moving average of $12.58.

African Rainbow Minerals Company Profile

African Rainbow Minerals (OTCMKTS:AFBOF) is a South Africa–based diversified mining and beneficiation company with a portfolio spanning ferrous metals, base metals and precious metals. The company’s principal operations include the exploration, extraction, processing and marketing of iron ore, manganese, chrome, platinum group metals and gold. Through a combination of wholly owned operations and strategic joint ventures, African Rainbow Minerals participates in every stage of the mining value chain, from resource evaluation and mine development to downstream smelting and refining.

The company holds majority interests in several prominent mining assets in South Africa, including iron ore and manganese operations in the Northern Cape and chrome and platinum group metals projects in the Bushveld Complex.