Asiamet Resources (LON:ARS) Shares Pass Above 50-Day Moving Average – Should You Sell?

Asiamet Resources Limited (LON:ARS)’s share price passed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of GBX 0.72 ($0.01) and traded as high as GBX 0.83 ($0.01). Asiamet Resources shares last traded at GBX 0.80 ($0.01), with a volume of 1,773,966 shares traded.

Asiamet Resources Stock Down 5.9 %

The firm has a 50 day moving average price of GBX 0.72 and a two-hundred day moving average price of GBX 0.78. The firm has a market capitalization of £20.72 million, a price-to-earnings ratio of -4.67 and a beta of 1.98. The company has a current ratio of 3.13, a quick ratio of 4.32 and a debt-to-equity ratio of 1.54.

Insiders Place Their Bets

In related news, insider Matthew Doube acquired 564,222 shares of the business’s stock in a transaction on Tuesday, December 17th. The shares were bought at an average cost of GBX 1 ($0.01) per share, with a total value of £5,642.22 ($7,076.66). 55.63% of the stock is owned by insiders.

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.