Altona Rare Earths (LON:REE) Stock Price Up 11.2% – Still a Buy?

Altona Rare Earths Plc (LON:REE)’s stock price shot up 11.2% during trading on Thursday . The stock traded as high as GBX 2.78 and last traded at GBX 2.78. 2,260,768 shares were traded during mid-day trading, a decline of 84% from the average daily volume of 14,016,932 shares. The stock had previously closed at GBX 2.50.

Altona Rare Earths Stock Up 11.2%

The stock has a 50 day simple moving average of GBX 3.11 and a 200 day simple moving average of GBX 2.42. The company has a market cap of £12.39 million, a price-to-earnings ratio of -6.64 and a beta of 1.21.

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.

Insiders Place Their Bets

In related news, insider Harvey Sinclair purchased 154,995 shares of the firm’s stock in a transaction on Friday, May 8th. The stock was purchased at an average price of GBX 3 per share, for a total transaction of £4,649.85. 12.36% of the stock is currently owned by corporate 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.