Tungsten West (LON:TUN) Trading 15% Higher – Should You Buy?

Tungsten West PLC (LON:TUN)’s share price traded up 15% on Tuesday . The company traded as high as GBX 26.50 and last traded at GBX 26. 3,173,673 shares changed hands during trading, a decline of 4% from the average session volume of 3,307,700 shares. The stock had previously closed at GBX 22.60.

Tungsten West Price Performance

The company has a debt-to-equity ratio of 63.33, a current ratio of 0.33 and a quick ratio of 7.04. The company has a 50 day moving average price of GBX 12.16 and a 200 day moving average price of GBX 10.67. The firm has a market cap of £49.50 million, a PE ratio of -1.00 and a beta of -0.60.

Tungsten West (LON:TUN) last announced its quarterly earnings data 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%.

Insider Activity

In other news, insider Phil Povey purchased 2,995,305 shares of the business’s stock in a transaction that occurred on Wednesday, December 31st. The stock was purchased at an average cost of GBX 3 per share, with a total value of £89,859.15. 9.01% of the stock is currently owned by company insiders.

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.