Altona Rare Earths (LON:REE) Hits New 52-Week High – Should You Buy?

Shares of Altona Rare Earths Plc (LON:REE) hit a new 52-week high during trading on Friday . The company traded as high as GBX 4.07 and last traded at GBX 3.96, with a volume of 45824492 shares trading hands. The stock had previously closed at GBX 3.05.

Altona Rare Earths Trading Up 29.8%

The company has a market capitalization of £12.94 million, a P/E ratio of -6.71 and a beta of -0.15. The company’s fifty day moving average is GBX 1.66 and its 200 day moving average is GBX 1.68.

Insider Transactions at Altona Rare Earths

In related news, insider Cedric Simonet purchased 711,712 shares of Altona Rare Earths stock in a transaction dated Thursday, January 15th. The stock was bought at an average cost of GBX 2 per share, for a total transaction of £14,234.24. Also, insider Kristoffer Andersson acquired 142,264 shares of the firm’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 valued at $2,801,354 over the last three months. Company insiders own 15.42% of the company’s stock.

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.