Tungsten West (LON:TUN) Stock Price Down 12.6% – Time to Sell?

Tungsten West PLC (LON:TUN) traded down 12.6% during trading on Thursday . The stock traded as low as GBX 27 and last traded at GBX 27.10. 4,759,311 shares changed hands during mid-day trading, an increase of 12% from the average session volume of 4,252,851 shares. The stock had previously closed at GBX 31.

Tungsten West Trading Down 14.5%

The stock has a 50-day simple moving average of GBX 25.64 and a two-hundred day simple moving average of GBX 15.58. The company has a debt-to-equity ratio of -167.64, a quick ratio of 7.04 and a current ratio of 0.06. The firm has a market cap of £321.67 million, a PE ratio of -1.02 and a beta of 0.32.

Tungsten West (LON:TUN) last announced its quarterly earnings results on Wednesday, December 24th. The company reported GBX (21.40) EPS for the quarter. Tungsten West had a positive return on equity of 233.54% and a negative net margin of 1,343.41%.

Insider Buying and Selling

In related news, insider Phil Povey bought 2,995,305 shares of the business’s stock in a transaction on Wednesday, December 31st. The stock was acquired at an average price of GBX 3 per share, with a total value of £89,859.15. Company insiders own 1.83% of the company’s stock.

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.