Altona Rare Earths (LON:REE) Shares Up 11.2% – Still a Buy?

Altona Rare Earths Plc (LON:REE)’s share price was up 11.2% on Thursday . The stock traded as high as GBX 2.78 and last traded at GBX 2.78. 2,260,768 shares traded hands during trading, a decline of 84% from the average session volume of 14,016,932 shares. The stock had previously closed at GBX 2.50.

Altona Rare Earths Price Performance

The firm has a market capitalization of £12.39 million, a PE ratio of -6.64 and a beta of 1.21. The stock has a 50-day moving average price of GBX 3.11 and a 200-day moving average price of GBX 2.42.

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

Insider Transactions at Altona Rare Earths

In other Altona Rare Earths news, insider Harvey Sinclair bought 154,995 shares of the business’s stock in a transaction on Friday, May 8th. The shares were bought at an average cost of GBX 3 per share, with a total value of £4,649.85. 12.36% of the stock is owned by corporate insiders.

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.