Altona Rare Earths (LON:REE) Shares Down 8.3% – Time to Sell?

Altona Rare Earths Plc (LON:REE) shares fell 8.3% on Monday . The company traded as low as GBX 3.20 and last traded at GBX 3.30. 4,625,479 shares changed 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 6.4%

The stock has a market capitalization of £12.10 million, a PE ratio of -5.47 and a beta of 0.84. The stock’s 50 day moving average price is GBX 1.99 and its 200-day moving average price is GBX 1.77.

Insider Buying and Selling at Altona Rare Earths

In other Altona Rare Earths news, insider Cedric Simonet acquired 711,712 shares of the company’s stock in a transaction dated Thursday, January 15th. The stock was purchased at an average price of GBX 2 per share, with a total value of £14,234.24. Also, insider Kristoffer Andersson bought 142,264 shares of the business’s stock in a transaction that occurred on Thursday, January 15th. The shares were acquired at an average price of GBX 2 per share, with a total value 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. 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.