Tungsten West (LON:TUN) Trading Up 13.9% – Here’s Why

Shares of Tungsten West PLC (LON:TUN) traded up 13.9% on Monday . The stock traded as high as GBX 32 and last traded at GBX 32. 9,511,843 shares were traded during trading, an increase of 64% from the average session volume of 5,815,069 shares. The stock had previously closed at GBX 28.10.

Tungsten West Stock Up 2.3%

The company has a market capitalization of £245.74 million, a P/E ratio of -1.22 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. The firm has a fifty day simple moving average of GBX 16.73 and a 200-day simple moving average of GBX 12.25.

Tungsten West (LON:TUN) last issued 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 Buying and Selling at Tungsten West

In related news, insider Phil Povey acquired 2,995,305 shares of the stock in a transaction dated Wednesday, December 31st. The stock was bought at an average price of GBX 3 per share, with a total value of £89,859.15. 2.63% of the stock is 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.