Alphamin Resources (CVE:AFM) Share Price Crosses Above 50 Day Moving Average – Time to Sell?

Shares of Alphamin Resources Corp. (CVE:AFM) crossed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of C$1.35 and traded as high as C$1.42. Alphamin Resources shares last traded at C$1.41, with a volume of 4,892,691 shares changing hands.

Alphamin Resources Stock Performance

The company has a quick ratio of 2.03, a current ratio of 2.31 and a debt-to-equity ratio of 11.57. The company has a market capitalization of C$1.81 billion, a PE ratio of 9.62 and a beta of 0.73. The company has a 50-day moving average price of C$1.35 and a two-hundred day moving average price of C$1.28.

Insiders Place Their Bets

In other Alphamin Resources news, Director Sean Norman Naylor sold 1,630,200 shares of Alphamin Resources stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of C$1.40, for a total transaction of C$2,282,280.00. Following the completion of the transaction, the director owned 2,000,000 shares of the company’s stock, valued at C$2,800,000. The trade was a 44.91% decrease in their position. Also, Director Charles Denby Stockton Needham sold 300,000 shares of the company’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of C$1.47, for a total value of C$441,000.00. Following the sale, the director owned 1,699,214 shares in the company, valued at approximately C$2,497,844.58. This represents a 15.01% decrease in their ownership of the stock. Insiders sold a total of 4,473,200 shares of company stock worth $6,374,280 in the last quarter. 58.59% of the stock is owned by company 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.