Asiamet Resources (LON:ARS) Shares Cross Below 50-Day Moving Average – Time to Sell?

Shares of Asiamet Resources Limited (LON:ARS) passed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of GBX 0.78 ($0.01) and traded as low as GBX 0.75 ($0.01). Asiamet Resources shares last traded at GBX 0.75 ($0.01), with a volume of 103,841 shares traded.

Asiamet Resources Price Performance

The stock’s 50 day simple moving average is GBX 0.78 and its two-hundred day simple moving average is GBX 0.75. The stock has a market capitalization of £27.93 million, a PE ratio of -4.53 and a beta of 1.98.

Insider Buying and Selling

In other news, insider Matthew Doube acquired 564,222 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The stock was bought at an average price of GBX 1 ($0.01) per share, with a total value of £5,642.22 ($7,149.29). 55.63% of the stock is currently owned by insiders.

Asiamet Resources Company Profile

Asiamet Resources Limited, together with its subsidiaries, engages in the exploration and development of mineral properties in Indonesia. The company explores for copper, gold, zinc, lead, and silver deposits. Its flagship project is the BKM copper project, which covers an area of 390 square kilometers located in Kalimantan.