Altona Rare Earths (LON:REE) Shares Down 9.2% – Here’s What Happened

Altona Rare Earths Plc (LON:REE)’s stock price traded down 9.2% during mid-day trading on Wednesday . The company traded as low as GBX 2.23 and last traded at GBX 2.27. 9,230,159 shares were traded during mid-day trading, a decline of 39% from the average session volume of 15,254,792 shares. The stock had previously closed at GBX 2.50.

Altona Rare Earths Stock Down 9.2%

The firm has a market capitalization of £10.08 million, a PE ratio of -5.42 and a beta of 1.26. The stock has a 50-day moving average price of GBX 3.27 and a 200 day moving average price of GBX 2.32.

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

Insider Buying and Selling at Altona Rare Earths

In other Altona Rare Earths news, insider Harvey Sinclair purchased 154,995 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The shares were purchased at an average cost of GBX 3 per share, for a total transaction of £4,649.85. 13.44% of the stock is currently owned by company insiders.

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.