Altona Rare Earths (LON:REE) Stock Price Down 8.3% – What’s Next?

Altona Rare Earths Plc (LON:REE)’s stock price fell 8.3% on Monday . The stock traded as low as GBX 3.20 and last traded at GBX 3.30. 4,625,479 shares traded hands during trading, a decline of 74% from the average session volume of 17,694,303 shares. The stock had previously closed at GBX 3.60.

Altona Rare Earths Stock Performance

The company’s 50 day moving average price is GBX 1.90 and its 200-day moving average price is GBX 1.75. The company has a market cap of £10.91 million, a price-to-earnings ratio of -5.66 and a beta of 0.84.

Insiders Place Their Bets

In related news, insider Cedric Simonet acquired 711,712 shares of the business’s stock in a transaction dated Thursday, January 15th. The stock was bought at an average price of GBX 2 per share, for a total transaction of £14,234.24. Also, insider Louise Adrian acquired 546,701 shares of the business’s stock in a transaction dated Thursday, January 15th. The shares were bought at an average price of GBX 2 per share, with a total value of £10,934.02. Over the last 90 days, insiders have acquired 1,400,677 shares of company stock worth $2,801,354. 15.42% of the stock is owned by insiders.

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.