Altona Rare Earths (LON:REE) Reaches New 52-Week High – Time to Buy?

Altona Rare Earths Plc (LON:REE)’s stock price hit a new 52-week high during mid-day trading on Friday . The company traded as high as GBX 4.07 and last traded at GBX 3.96, with a volume of 45824492 shares trading hands. The stock had previously closed at GBX 3.05.

Altona Rare Earths Stock Performance

The stock has a fifty day simple moving average of GBX 1.61 and a two-hundred day simple moving average of GBX 1.66. The stock has a market cap of £12.94 million, a price-to-earnings ratio of -6.71 and a beta of -0.15.

Insider Buying and Selling at Altona Rare Earths

In related news, insider Louise Adrian purchased 546,701 shares of the firm’s stock in a transaction that occurred on Thursday, January 15th. The shares were bought at an average cost of GBX 2 per share, with a total value of £10,934.02. Also, insider Cedric Simonet acquired 711,712 shares of the stock in a transaction that occurred on Thursday, January 15th. The shares were bought at an average price of GBX 2 per share, with a total value of £14,234.24. Insiders have acquired a total of 1,400,677 shares of company stock worth $2,801,354 over the last 90 days. Insiders own 15.42% of the company’s stock.

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.