Tungsten West (LON:TUN) Trading 14.1% Higher – Still a Buy?

Tungsten West PLC (LON:TUN) shot up 14.1% during trading on Thursday . The company traded as high as GBX 14 and last traded at GBX 13.98. 2,071,757 shares changed hands during mid-day trading, a decline of 7% from the average session volume of 2,235,418 shares. The stock had previously closed at GBX 12.25.

Tungsten West Stock Up 14.7%

The stock has a fifty day moving average price of GBX 10.82 and a two-hundred day moving average price of GBX 10.14. The company has a market cap of £26.75 million, a price-to-earnings ratio of -0.54 and a beta of -0.60. The company has a quick ratio of 7.04, a current ratio of 0.33 and a debt-to-equity ratio of 63.33.

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

Insider Activity at Tungsten West

In other Tungsten West news, insider Phil Povey purchased 2,995,305 shares of the company’s stock in a transaction dated Wednesday, December 31st. The stock was bought at an average cost of GBX 3 per share, for a total transaction of £89,859.15. Corporate insiders own 9.01% of the company’s stock.

About Tungsten West

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.