Altona Rare Earths (LON:REE) Trading Down 12% – Time to Sell?

Altona Rare Earths Plc (LON:REE)’s share price dropped 12% during trading on Wednesday . The stock traded as low as GBX 2.33 and last traded at GBX 2.33. Approximately 22,613,736 shares were traded during trading, an increase of 36% from the average daily volume of 16,572,729 shares. The stock had previously closed at GBX 2.65.

Altona Rare Earths Stock Up 10.4%

The firm has a market cap of £8.30 million, a price-to-earnings ratio of -4.31 and a beta of -0.15. The firm has a 50 day moving average of GBX 1.45 and a 200 day moving average of GBX 1.61.

Insider Activity

In related news, insider Cedric Simonet acquired 711,712 shares of the 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 Kristoffer Andersson bought 142,264 shares of the company’s stock in a transaction that occurred on Thursday, January 15th. The shares were bought at an average price of GBX 2 per share, for a total transaction of £2,845.28. Insiders purchased 1,400,677 shares of company stock worth $2,801,354 in the last quarter. 15.42% of the stock is owned by corporate insiders.

Altona Rare Earths Company Profile

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.