Altona Rare Earths (LON:REE) Shares Up 12.5% – What’s Next?

Altona Rare Earths Plc (LON:REE) rose 12.5% during trading on Thursday . The stock traded as high as GBX 2.29 and last traded at GBX 2.25. 6,199,057 shares changed hands during trading, a decline of 55% from the average session volume of 13,809,621 shares. The stock had previously closed at GBX 2.

Altona Rare Earths Price Performance

The stock’s fifty day moving average is GBX 2.64 and its 200-day moving average is GBX 2.54. The stock has a market cap of £10.03 million, a PE ratio of -5.37 and a beta of 1.21.

Insider Buying and Selling

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