Tungsten West (LON:TUN) Shares Down 10% – Time to Sell?

Tungsten West PLC (LON:TUN)’s share price was down 10% on Wednesday . The stock traded as low as GBX 35.90 and last traded at GBX 35.90. Approximately 2,676,164 shares traded hands during mid-day trading, a decline of 41% from the average daily volume of 4,531,631 shares. The stock had previously closed at GBX 39.90.

Tungsten West Price Performance

The company has a debt-to-equity ratio of -167.64, a current ratio of 0.06 and a quick ratio of 7.04. The company’s 50-day moving average price is GBX 35.33 and its 200-day moving average price is GBX 21.46. The company has a market cap of £447.91 million, a P/E ratio of -1.38 and a beta of 0.30.

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.