Altona Rare Earths (LON:REE) Trading 13.6% Higher – Should You Buy?

Shares of Altona Rare Earths Plc (LON:REE) shot up 13.6% on Tuesday . The stock traded as high as GBX 2.67 and last traded at GBX 2.67. 29,576,623 shares changed hands during mid-day trading, an increase of 84% from the average session volume of 16,086,536 shares. The stock had previously closed at GBX 2.35.

Altona Rare Earths Stock Performance

The company has a market capitalization of £8.29 million, a P/E ratio of -4.30 and a beta of -0.15. The company’s fifty day simple moving average is GBX 1.41 and its 200-day simple moving average is GBX 1.60.

Insider Activity at Altona Rare Earths

In related news, insider Louise Adrian bought 546,701 shares of the company’s stock in a transaction on Thursday, January 15th. The shares were acquired at an average price of GBX 2 per share, with a total value of £10,934.02. Also, insider Kristoffer Andersson purchased 142,264 shares of the business’s stock in a transaction dated Thursday, January 15th. The stock was bought at an average price of GBX 2 per share, for a total transaction of £2,845.28. Insiders have acquired a total of 1,400,677 shares of company stock valued at $2,801,354 over the last ninety days. 15.42% of the stock is owned by company insiders.

About Altona Rare Earths

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.