Asiamet Resources (LON:ARS) Stock Crosses Below 50-Day Moving Average – Here’s What Happened

Asiamet Resources Limited (LON:ARS)’s share price crossed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of GBX 0.74 ($0.01) and traded as low as GBX 0.73 ($0.01). Asiamet Resources shares last traded at GBX 0.73 ($0.01), with a volume of 4,737,103 shares changing hands.

Asiamet Resources Stock Performance

The company has a market capitalization of £18.80 million, a price-to-earnings ratio of -4.67 and a beta of 1.98. The company has a debt-to-equity ratio of 1.54, a quick ratio of 4.32 and a current ratio of 3.13. The firm has a 50-day simple moving average of GBX 0.74 and a two-hundred day simple moving average of GBX 0.76.

Insider Activity at Asiamet Resources

In related news, insider Matthew Doube bought 564,222 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The stock was purchased at an average cost of GBX 1 ($0.01) per share, for a total transaction of £5,642.22 ($7,020.31). Company insiders own 55.63% of the company’s stock.

About Asiamet Resources

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.