Altona Rare Earths (LON:REE) Shares Up 16.4% – Time to Buy?

Shares of Altona Rare Earths Plc (LON:REE) shot up 16.4% on Thursday . The company traded as high as GBX 4.78 and last traded at GBX 4.54. 14,567,408 shares were traded during mid-day trading, a decline of 6% from the average session volume of 15,558,477 shares. The stock had previously closed at GBX 3.90.

Altona Rare Earths Trading Up 13.4%

The business has a fifty day simple moving average of GBX 3.39 and a two-hundred day simple moving average of GBX 2.22. The company has a market cap of £18.97 million, a PE ratio of -10.56 and a beta of 0.99.

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

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.