Alphamin Resources (CVE:AFM) Stock Price Crosses Above 50-Day Moving Average – Time to Sell?

Alphamin Resources Corp. (CVE:AFM) shares passed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of C$1.35 and traded as high as C$1.42. Alphamin Resources shares last traded at C$1.41, with a volume of 4,892,691 shares.

Alphamin Resources Price Performance

The stock has a 50 day moving average of C$1.36 and a two-hundred day moving average of C$1.28. The stock has a market cap of C$1.80 billion, a PE ratio of 9.56 and a beta of 0.73. The company has a debt-to-equity ratio of 11.57, a quick ratio of 2.03 and a current ratio of 2.31.

Insider Buying and Selling

In related news, Director Sean Norman Naylor sold 1,630,200 shares of Alphamin Resources stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of C$1.40, for a total value of C$2,282,280.00. Following the transaction, the director owned 2,000,000 shares of the company’s stock, valued at approximately C$2,800,000. This trade represents a 44.91% decrease in their position. Also, Director Charles Denby Stockton Needham sold 300,000 shares of Alphamin Resources stock in a transaction dated Monday, May 11th. The stock was sold at an average price of C$1.47, for a total value of C$441,000.00. Following the completion of the transaction, the director directly owned 1,699,214 shares in the company, valued at C$2,497,844.58. This represents a 15.01% decrease in their position. In the last quarter, insiders have sold 4,473,200 shares of company stock valued at $6,374,280. 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.