Altona Rare Earths (LON:REE) Stock Price Up 7.7% – What’s Next?

Altona Rare Earths Plc (LON:REE)’s stock price shot up 7.7% during mid-day trading on Tuesday . The company traded as high as GBX 1.40 and last traded at GBX 1.40. 10,003,980 shares traded hands during mid-day trading, an increase of 104% from the average session volume of 4,908,203 shares. The stock had previously closed at GBX 1.30.

Altona Rare Earths Stock Performance

The business has a 50 day moving average of GBX 1.34 and a two-hundred day moving average of GBX 1.58. The stock has a market capitalization of £4.49 million, a PE ratio of -2.36 and a beta of -0.15.

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

Insider Activity at Altona Rare Earths

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