Altona Rare Earths (LON:REE) Trading Down 8.8% – Here’s What Happened

Altona Rare Earths Plc (LON:REE)’s share price was down 8.8% during trading on Monday . The company traded as low as GBX 2.53 and last traded at GBX 2.69. Approximately 10,024,972 shares were traded during trading, a decline of 39% from the average daily volume of 16,532,078 shares. The stock had previously closed at GBX 2.95.

Altona Rare Earths Stock Performance

The company has a market capitalization of £10.20 million, a price-to-earnings ratio of -4.61 and a beta of 0.84. The firm has a 50-day simple moving average of GBX 2.30 and a two-hundred day simple moving average of GBX 1.86.

Insider Activity at Altona Rare Earths

In other Altona Rare Earths news, insider Kristoffer Andersson bought 142,264 shares of Altona Rare Earths stock in a transaction on Thursday, January 15th. The shares were bought at an average cost of GBX 2 per share, for a total transaction of £2,845.28. Also, insider Louise Adrian purchased 546,701 shares of the firm’s stock in a transaction on Thursday, January 15th. The stock was acquired at an average cost of GBX 2 per share, with a total value of £10,934.02. Over the last quarter, insiders acquired 1,400,677 shares of company stock worth $2,801,354. Corporate insiders own 13.44% 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.