Ariana Resources (LON:AAU) Shares Up 8.3% – Still a Buy?

Shares of Ariana Resources plc (LON:AAU) rose 8.3% on Tuesday . The company traded as high as GBX 1.35 ($0.02) and last traded at GBX 1.30 ($0.02). Approximately 6,206,478 shares traded hands during trading, an increase of 108% from the average daily volume of 2,982,399 shares. The stock had previously closed at GBX 1.20 ($0.02).

Ariana Resources Stock Performance

The stock has a market cap of £25.05 million, a P/E ratio of 48,148.15 and a beta of 0.65. The firm has a 50-day moving average price of GBX 1.68 and a 200-day moving average price of GBX 1.99.

Insiders Place Their Bets

In related news, insider Michael de Villiers purchased 1,783,333 shares of the company’s stock in a transaction dated Monday, April 7th. The shares were purchased at an average cost of GBX 1 ($0.01) per share, with a total value of £17,833.33 ($23,601.55). 43.73% of the stock is owned by corporate insiders.

Ariana Resources Company Profile

Ariana Resources is an AIM-listed mineral exploration and development company with an exceptional track record of creating value for its shareholders through its interests in active mining projects and investments in exploration companies. Its current interests include being a gold producer in Türkiye, a major gold development project in Zimbabwe that will become the Company’s flagship project over time, and copper-gold exploration and development projects across the portfolio.