Alphamin Resources (CVE:AFM) Reaches New 12-Month High – What’s Next?

Alphamin Resources Corp. (CVE:AFM)’s share price hit a new 52-week high during trading on Monday . The stock traded as high as C$1.60 and last traded at C$1.54, with a volume of 784006 shares. The stock had previously closed at C$1.52.

Alphamin Resources Stock Performance

The company’s 50-day moving average price is C$1.41 and its two-hundred day moving average price is C$1.32. The company has a market cap of C$1.93 billion, a P/E ratio of 10.24 and a beta of 0.65. The company has a current ratio of 2.31, a quick ratio of 2.02 and a debt-to-equity ratio of 11.57.

Insider Buying and Selling

In related news, Director Sean Norman Naylor sold 1,000,000 shares of the firm’s stock in a transaction that occurred on Friday, June 19th. The shares were sold at an average price of C$1.45, for a total transaction of C$1,450,000.00. Following the completion of the sale, the director directly owned 1,000,000 shares in the company, valued at approximately C$1,450,000. This trade represents a 50.00% decrease in their ownership of the stock. Also, Director Charles Denby Stockton Needham sold 200,000 shares of Alphamin Resources stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of C$1.44, for a total transaction of C$288,000.00. Following the completion of the transaction, the director owned 1,499,214 shares in the company, valued at approximately C$2,158,868.16. This trade represents a 11.77% decrease in their position. Over the last ninety days, insiders sold 5,473,200 shares of company stock worth $7,824,280. Corporate insiders own 58.59% of the company’s stock.

About Alphamin Resources

Alphamin Resources Corp., together with its subsidiaries, engages in the production and sale of tin concentrates. Its principal project is the Bisie tin mine located in the Democratic Republic of Congo. The company was formerly known as La Plata Gold Corporation and changed its name to Alphamin Resources Corp. in October 2008. Alphamin Resources Corp. was incorporated in 1981 and is headquartered in Grand Baie, Mauritius.