Tungsten West (LON:TUN) Shares Up 12.2% – Should You Buy?

Tungsten West PLC (LON:TUN) shot up 12.2% on Tuesday . The stock traded as high as GBX 12 and last traded at GBX 11.50. 4,032,398 shares traded hands during mid-day trading, an increase of 343% from the average session volume of 910,907 shares. The stock had previously closed at GBX 10.25.

Tungsten West Stock Up 12.4%

The company has a current ratio of 0.33, a quick ratio of 7.04 and a debt-to-equity ratio of 63.33. The company has a 50-day simple moving average of GBX 10.59 and a 200 day simple moving average of GBX 9.87. The company has a market cap of £21.75 million, a P/E ratio of -0.96 and a beta of -0.60.

Tungsten West (LON:TUN) last issued its earnings results on Wednesday, December 24th. The company reported GBX (21.40) earnings per share (EPS) for the quarter. Tungsten West had a negative net margin of 1,343.41% and a negative return on equity of 44.58%.

Tungsten West Company Profile

Tungsten West Plc is a UK based company focussed on recommencing production at the Hemerdon tungsten and tin mine in Devon, England.

The Hemerdon mine is the world’s third largest Tungsten resource. The mine has had over £170m spent on it via the previous operator, with first production expected in 2022 and a mine life of 18.5 years. The Company is focused on rebuilding and restarting the mine to supply two critically important strategic minerals in tungsten and tin both domestically and globally.