Altona Rare Earths (LON:REE) Trading Down 8.9% – Time to Sell?

Altona Rare Earths Plc (LON:REE)’s share price traded down 8.9% during trading on Monday . The company traded as low as GBX 2 and last traded at GBX 2.05. Approximately 4,679,530 shares changed hands during trading, a decline of 66% from the average daily volume of 13,809,621 shares. The stock had previously closed at GBX 2.25.

Altona Rare Earths Stock Performance

The firm has a fifty day simple moving average of GBX 2.38 and a two-hundred day simple moving average of GBX 2.66. The firm has a market cap of £9.36 million, a PE ratio of -5.01 and a beta of 1.21.

Insider Buying and Selling at Altona Rare Earths

In other Altona Rare Earths news, insider Harvey Sinclair purchased 154,995 shares of Altona Rare Earths stock in a transaction that occurred on Friday, May 8th. The shares were bought at an average price of GBX 3 per share, for a total transaction of £4,649.85. Company insiders own 12.36% 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.