Altona Rare Earths (LON:REE) Trading Up 13% – Still a Buy?

Altona Rare Earths Plc (LON:REE) shares shot up 13% during mid-day trading on Thursday . The stock traded as high as GBX 2.59 and last traded at GBX 2.49. 4,301,289 shares traded hands during trading, a decline of 71% from the average session volume of 14,703,061 shares. The stock had previously closed at GBX 2.20.

Altona Rare Earths Trading Up 17.7%

The firm has a market cap of £11.50 million, a P/E ratio of -6.18 and a beta of 1.26. The company’s 50 day simple moving average is GBX 3.18 and its 200-day simple moving average is GBX 2.35.

Altona Rare Earths (LON:REE) last posted its earnings results on Thursday, March 26th. The company reported GBX (0.16) earnings per share (EPS) for the quarter.

Insider Buying and Selling at Altona Rare Earths

In other Altona Rare Earths news, insider Harvey Sinclair acquired 154,995 shares of the stock in a transaction dated Friday, May 8th. The shares were purchased at an average price of GBX 3 per share, for a total transaction of £4,649.85. 13.44% of the stock is owned by company 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.