Altona Rare Earths (LON:REE) Stock Price Up 11.2% – Here’s What Happened

Shares of Altona Rare Earths Plc (LON:REE) were up 11.2% on Thursday . The company traded as high as GBX 2.78 and last traded at GBX 2.78. 2,260,768 shares were traded during trading, a decline of 84% from the average session volume of 14,016,932 shares. The stock had previously closed at GBX 2.50.

Altona Rare Earths Stock Performance

The company’s fifty day moving average price is GBX 3.10 and its 200-day moving average price is GBX 2.43. The stock has a market cap of £11.65 million, a P/E ratio of -6.24 and a beta of 1.21.

Altona Rare Earths (LON:REE) last issued its quarterly earnings results on Thursday, March 26th. The company reported GBX (0.16) EPS for the quarter.

Insider Transactions at Altona Rare Earths

In other Altona Rare Earths news, insider Harvey Sinclair acquired 154,995 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The stock was bought at an average price of GBX 3 per share, for a total transaction of £4,649.85. 12.36% of the stock is currently owned by 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.