Altona Rare Earths (LON:REE) Shares Down 7% – Here’s What Happened

Altona Rare Earths Plc (LON:REE)’s share price was down 7% during mid-day trading on Friday . The stock traded as low as GBX 1.16 and last traded at GBX 1.16. Approximately 495,057 shares were traded during trading, a decline of 87% from the average daily volume of 3,774,872 shares. The stock had previously closed at GBX 1.25.

Altona Rare Earths Trading Down 1.8%

The business has a 50-day moving average of GBX 1.35 and a 200 day moving average of GBX 1.60. The firm has a market capitalization of £3.95 million, a PE ratio of -2.08 and a beta of -0.15.

Altona Rare Earths (LON:REE) last posted its earnings results on Monday, October 27th. The company reported GBX (0.59) earnings per share (EPS) for the quarter.

Insiders Place Their Bets

In other news, insider Louise Adrian acquired 546,701 shares of the firm’s stock in a transaction on Thursday, January 15th. The stock was purchased at an average price of GBX 2 per share, for a total transaction of £10,934.02. Also, insider Kristoffer Andersson bought 142,264 shares of the company’s stock in a transaction on Thursday, January 15th. The shares were purchased at an average cost of GBX 2 per share, for a total transaction of £2,845.28. In the last ninety days, insiders bought 1,400,677 shares of company stock valued at $2,801,354. Corporate insiders own 17.02% 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.