Alphamin Resources (CVE:AFM) Shares Break Below 50 Day Moving Average – Here’s Why

Alphamin Resources Corp. (CVE:AFM) shares passed below its 50-day moving average during trading on Thursday. The stock has a 50-day moving average of C$1.47 and traded as low as C$1.42. Alphamin Resources shares last traded at C$1.43, with a volume of 1,180,365 shares trading hands.

Alphamin Resources Trading Up 2.1%

The firm has a fifty day moving average of C$1.47 and a two-hundred day moving average of C$1.40. The company has a market cap of C$1.88 billion, a PE ratio of 8.52 and a beta of 0.56. The company has a current ratio of 1.68, a quick ratio of 2.02 and a debt-to-equity ratio of 10.15.

Insider Activity at Alphamin Resources

In other Alphamin Resources news, Director Sean Norman Naylor sold 500,000 shares of the stock in a transaction on Monday, August 10th. The stock was sold at an average price of C$1.60, for a total transaction of C$800,000.00. Also, insider Jac Van Heerden sold 390,500 shares of Alphamin Resources stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of C$1.52, for a total value of C$593,560.00. Over the last ninety days, insiders sold 1,070,100 shares of company stock valued at $1,662,960. 58.59% of the stock is owned by 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.