Alphamin Resources (CVE:AFM) Shares Pass Above 50 Day Moving Average – Here’s Why

Shares of Alphamin Resources Corp. (CVE:AFM) crossed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of C$1.27 and traded as high as C$1.43. Alphamin Resources shares last traded at C$1.41, with a volume of 345,735 shares traded.

Alphamin Resources Stock Up 2.9%

The company has a current ratio of 2.31, a quick ratio of 2.03 and a debt-to-equity ratio of 11.57. The stock has a 50-day simple moving average of C$1.27 and a 200-day simple moving average of C$1.21. The company has a market cap of C$1.81 billion, a price-to-earnings ratio of 9.62 and a beta of 0.90.

Insider Transactions at Alphamin Resources

In related news, Director Sean Norman Naylor sold 206,700 shares of the company’s stock in a transaction on Wednesday, April 22nd. The stock was sold at an average price of C$1.40, for a total transaction of C$289,380.00. Following the transaction, the director directly owned 3,951,000 shares of the company’s stock, valued at approximately C$5,531,400. The trade was a 4.97% decrease in their ownership of the stock. Company insiders own 58.59% of the company’s stock.

About Alphamin Resources

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.