Alphamin Resources (CVE:AFM) Hits New 52-Week High – Time to Buy?

Alphamin Resources Corp. (CVE:AFM)’s stock price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as C$1.60 and last traded at C$1.54, with a volume of 784006 shares traded. The stock had previously closed at C$1.52.

Alphamin Resources Trading Down 1.3%

The firm has a market capitalization of C$1.93 billion, a P/E ratio of 10.24 and a beta of 0.65. The business’s 50 day moving average is C$1.41 and its two-hundred day moving average is C$1.32. The company has a quick ratio of 2.02, a current ratio of 2.31 and a debt-to-equity ratio of 11.57.

Insiders Place Their Bets

In related news, Director John Mackinnon Robertson sold 345,400 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of C$1.45, for a total transaction of C$500,830.00. Also, Director Sean Norman Naylor sold 1,000,000 shares of the stock in a transaction on Friday, June 19th. The shares were sold at an average price of C$1.45, for a total value of C$1,450,000.00. Following the transaction, the director directly owned 1,000,000 shares of the company’s stock, valued at approximately C$1,450,000. The trade was a 50.00% decrease in their ownership of the stock. In the last three months, insiders have sold 5,473,200 shares of company stock worth $7,824,280. 58.59% of the stock is owned by corporate insiders.

Alphamin Resources Company Profile

Alphamin Resources Corp., together with its subsidiaries, engages in the production and sale of tin concentrates. Its principal project is the Bisie tin mine located in the Democratic Republic of Congo. The company was formerly known as La Plata Gold Corporation and changed its name to Alphamin Resources Corp. in October 2008. Alphamin Resources Corp. was incorporated in 1981 and is headquartered in Grand Baie, Mauritius.