Altona Rare Earths (LON:REE) Stock Price Up 11.1% – Here’s Why

Shares of Altona Rare Earths Plc (LON:REE) were up 11.1% during trading on Monday . The company traded as high as GBX 3.29 and last traded at GBX 3.16. Approximately 6,136,569 shares changed hands during trading, a decline of 63% from the average daily volume of 16,645,168 shares. The stock had previously closed at GBX 2.84.

Altona Rare Earths Price Performance

The firm’s fifty day simple moving average is GBX 2.55 and its 200 day simple moving average is GBX 1.93. The company has a market capitalization of £11.06 million, a price-to-earnings ratio of -5.01 and a beta of 0.84.

Altona Rare Earths (LON:REE) last released its quarterly earnings results on Thursday, March 26th. The company reported GBX (0.16) earnings per share (EPS) for the quarter.

Insider Activity

In other Altona Rare Earths news, insider Cedric Simonet bought 711,712 shares of the firm’s stock in a transaction dated Thursday, January 15th. The stock was acquired at an average price of GBX 2 per share, with a total value of £14,234.24. Also, insider Louise Adrian purchased 546,701 shares of the stock in a transaction dated Thursday, January 15th. The shares were acquired at an average price of GBX 2 per share, for a total transaction of £10,934.02. Insiders acquired 1,400,677 shares of company stock worth $2,801,354 over the last quarter. 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.