Ariana Resources (LON:AAU) Shares Down 10.7% – Time to Sell?

Shares of Ariana Resources plc (LON:AAU) dropped 10.7% during mid-day trading on Tuesday . The stock traded as low as GBX 1 ($0.01) and last traded at GBX 1.03 ($0.01). Approximately 7,841,381 shares changed hands during trading, an increase of 195% from the average daily volume of 2,657,112 shares. The stock had previously closed at GBX 1.15 ($0.01).

Ariana Resources Trading Up 20.8 %

The company has a market capitalization of £25.03 million, a price-to-earnings ratio of 48,111.11 and a beta of 0.65. The stock has a 50-day simple moving average of GBX 1.71 and a 200-day simple moving average of GBX 2.01.

Insiders Place Their Bets

In other Ariana Resources news, insider Michael de Villiers purchased 1,783,333 shares of Ariana Resources stock in a transaction dated Monday, April 7th. The shares were bought at an average cost of GBX 1 ($0.01) per share, for a total transaction of £17,833.33 ($23,148.14). 43.73% of the stock is owned by company insiders.

About Ariana Resources

Ariana Resources is an AIM-listed mineral exploration and development company with an exceptional track record of creating value for its shareholders through its interests in active mining projects and investments in exploration companies. Its current interests include being a gold producer in Türkiye, a major gold development project in Zimbabwe that will become the Company’s flagship project over time, and copper-gold exploration and development projects across the portfolio.