Alphamin Resources (CVE:AFM) Stock Price Crosses Above Fifty Day Moving Average – What’s Next?

Alphamin Resources Corp. (CVE:AFM) shares passed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of C$1.46 and traded as high as C$1.50. Alphamin Resources shares last traded at C$1.45, with a volume of 534,911 shares traded.

Alphamin Resources Trading Down 2.0%

The stock’s 50 day moving average is C$1.46 and its 200-day moving average is C$1.36. The company has a market cap of C$1.87 billion, a P/E ratio of 8.46 and a beta of 0.65. The company has a current ratio of 1.68, a quick ratio of 2.02 and a debt-to-equity ratio of 10.15.

Insider Transactions at Alphamin Resources

In other news, Director Sean Norman Naylor sold 1,630,200 shares of the company’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of C$1.40, for a total value of C$2,282,280.00. Following the transaction, the director owned 2,000,000 shares in the company, valued at approximately C$2,800,000. This represents a 44.91% decrease in their ownership of the stock. Insiders have sold 3,130,200 shares of company stock valued at $4,532,280 over the last three months. 58.59% of the stock is currently owned by insiders.

Alphamin Resources Company Profile

Alphamin Resources Corp., together with its subsidiaries, engages in the production and sale of tin concentrates. Its principal project is the Bisie tin mine located in the Democratic Republic of Congo. The company was formerly known as La Plata Gold Corporation and changed its name to Alphamin Resources Corp. in October 2008. Alphamin Resources Corp. was incorporated in 1981 and is headquartered in Grand Baie, Mauritius.