Alphamin Resources (CVE:AFM) Stock Passes Below 50 Day Moving Average – What’s Next?

Alphamin Resources Corp. (CVE:AFM) crossed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of C$1.29 and traded as low as C$1.29. Alphamin Resources shares last traded at C$1.31, with a volume of 1,115,406 shares.

Alphamin Resources Trading Up 2.3%

The stock has a market capitalization of C$1.72 billion, a price-to-earnings ratio of 9.15 and a beta of 0.80. The company’s 50 day moving average is C$1.30 and its 200 day moving average is C$1.25. The company has a debt-to-equity ratio of 11.57, a quick ratio of 2.03 and a current ratio of 2.31.

Insider Activity at Alphamin Resources

In related news, Director John Mackinnon Robertson sold 452,100 shares of the company’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of C$1.44, for a total transaction of C$651,024.00. Also, Director Sean Norman Naylor sold 206,700 shares of the company’s stock in a transaction on Wednesday, April 22nd. The shares were sold at an average price of C$1.40, for a total transaction of C$289,380.00. Following the transaction, the director owned 3,951,000 shares of the company’s stock, valued at approximately C$5,531,400. The trade was a 4.97% decrease in their ownership of the stock. Insiders sold a total of 2,843,000 shares of company stock worth $4,092,000 in the last ninety days. 58.59% of the stock is currently owned by insiders.

About Alphamin Resources

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.