Alphamin Resources (CVE:AFM) Reaches New 52-Week High – Still a Buy?

Alphamin Resources Corp. (CVE:AFM)’s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as C$1.61 and last traded at C$1.60, with a volume of 590945 shares. The stock had previously closed at C$1.56.

Alphamin Resources Price Performance

The stock has a market capitalization of C$1.93 billion, a price-to-earnings ratio of 8.76 and a beta of 0.65. The company has a debt-to-equity ratio of 10.15, a quick ratio of 2.02 and a current ratio of 1.68. The company has a fifty day simple moving average of C$1.45 and a two-hundred day simple moving average of C$1.36.

Insiders Place Their Bets

In other Alphamin Resources news, Director Sean Norman Naylor sold 1,000,000 shares of the stock in a transaction dated 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 sale, the director directly owned 1,000,000 shares in the company, valued at C$1,450,000. This represents a 50.00% decrease in their ownership of the stock. 58.59% of the stock is owned by corporate insiders.

Alphamin Resources Company Profile

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.