Altona Rare Earths (LON:REE) Trading Down 9.7% – What’s Next?

Shares of Altona Rare Earths Plc (LON:REE) traded down 9.7% on Monday . The company traded as low as GBX 2.80 and last traded at GBX 2.89. 5,470,006 shares were traded during trading, a decline of 66% from the average session volume of 15,917,647 shares. The stock had previously closed at GBX 3.20.

Altona Rare Earths Stock Down 2.2%

The stock has a fifty day moving average of GBX 3.42 and a two-hundred day moving average of GBX 2.27. The stock has a market cap of £12.60 million, a price-to-earnings ratio of -6.77 and a beta of 1.26.

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

Insiders Place Their Bets

In other Altona Rare Earths news, insider Harvey Sinclair acquired 154,995 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The shares were purchased at an average price of GBX 3 per share, with a total value of £4,649.85. 13.44% of the stock is owned by corporate insiders.

About Altona Rare Earths

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.