Altona Rare Earths (LON:REE) Issues Quarterly Earnings Results

Altona Rare Earths (LON:REE) announced its earnings results on Thursday. The company reported GBX (0.16) EPS for the quarter, Digital Look Earnings reports.

Altona Rare Earths Price Performance

LON:REE opened at GBX 3.08 on Friday. Altona Rare Earths has a one year low of GBX 1.05 and a one year high of GBX 4.10. The company’s 50-day simple moving average is GBX 2.45 and its 200 day simple moving average is GBX 1.90. The firm has a market capitalization of £11.53 million, a P/E ratio of -5.22 and a beta of 0.84.

Insiders Place Their Bets

In related news, insider Louise Adrian purchased 546,701 shares of the company’s stock in a transaction dated Thursday, January 15th. The shares were purchased at an average cost 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 that occurred on Thursday, January 15th. The stock was bought at an average price of GBX 2 per share, for a total transaction of £2,845.28. Over the last quarter, insiders have acquired 1,400,677 shares of company stock worth $2,801,354. 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.