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

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

Tungsten West Price Performance

The business’s 50 day simple moving average is GBX 10.82 and its 200-day simple moving average is GBX 10.14. 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 stock has a market capitalization of £26.75 million, a price-to-earnings ratio of -0.54 and a beta of -0.60.

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

Insider Activity

In other Tungsten West news, insider Phil Povey purchased 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. 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.