Altona Rare Earths (LON:REE) Shares Down 8.3% – What’s Next?

Altona Rare Earths Plc (LON:REE) shares traded down 8.3% during trading on Monday . The stock traded as low as GBX 3.20 and last traded at GBX 3.30. 4,625,479 shares traded hands during mid-day trading, a decline of 74% from the average session volume of 17,694,303 shares. The stock had previously closed at GBX 3.60.

Altona Rare Earths Stock Down 7.2%

The firm’s 50-day moving average price is GBX 1.90 and its two-hundred day moving average price is GBX 1.75. The firm has a market capitalization of £10.91 million, a PE ratio of -5.66 and a beta of 0.84.

Insider Buying and Selling

In other news, insider Kristoffer Andersson acquired 142,264 shares of the stock in a transaction on Thursday, January 15th. The shares were purchased at an average cost of GBX 2 per share, for a total transaction of £2,845.28. Also, insider Cedric Simonet bought 711,712 shares of the business’s stock in a transaction on Thursday, January 15th. The shares were purchased at an average cost of GBX 2 per share, for a total transaction of £14,234.24. In the last 90 days, insiders bought 1,400,677 shares of company stock valued at $2,801,354. Company insiders own 15.42% of the company’s stock.

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.