Altona Rare Earths (LON:REE) Trading Down 16.1% – What’s Next?

Altona Rare Earths Plc (LON:REE)’s share price dropped 16.1% on Tuesday . The stock traded as low as GBX 2.33 and last traded at GBX 2.39. Approximately 4,483,703 shares were traded during mid-day trading, a decline of 71% from the average daily volume of 15,479,967 shares. The stock had previously closed at GBX 2.85.

Altona Rare Earths Trading Down 4.7%

The company’s fifty day moving average is GBX 3.33 and its two-hundred day moving average is GBX 2.30. The stock has a market cap of £11.43 million, a price-to-earnings ratio of -6.14 and a beta of 1.26.

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

Insiders Place Their Bets

In related news, insider Harvey Sinclair bought 154,995 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The stock was purchased at an average price of GBX 3 per share, for a total transaction of £4,649.85. Company insiders own 13.44% of the company’s stock.

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.