Altona Rare Earths (LON:REE) Stock Price Up 9.8% – Here’s Why

Altona Rare Earths Plc (LON:REE)’s share price traded up 9.8% on Wednesday . The company traded as high as GBX 2.16 and last traded at GBX 1.98. 23,115,586 shares changed hands during mid-day trading, an increase of 86% from the average session volume of 12,433,908 shares. The stock had previously closed at GBX 1.80.

Altona Rare Earths Price Performance

The company has a 50-day simple moving average of GBX 1.33 and a 200-day simple moving average of GBX 1.57. The firm has a market cap of £7.69 million, a PE ratio of -3.99 and a beta of -0.15.

Insider Activity at Altona Rare Earths

In other Altona Rare Earths news, insider Kristoffer Andersson acquired 142,264 shares of the company’s stock in a transaction that occurred on Thursday, January 15th. The stock was bought at an average price of GBX 2 per share, for a total transaction of £2,845.28. Also, insider Cedric Simonet bought 711,712 shares of Altona Rare Earths stock in a transaction on Thursday, January 15th. The stock was acquired at an average price of GBX 2 per share, for a total transaction of £14,234.24. Insiders acquired a total of 1,400,677 shares of company stock worth $2,801,354 in the last quarter. 15.42% of the stock is owned by company insiders.

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.