Tungsten West (LON:TUN) Shares Down 11.2% – What’s Next?

Tungsten West PLC (LON:TUN)’s stock price was down 11.2% during trading on Tuesday . The stock traded as low as GBX 18.50 and last traded at GBX 19. Approximately 10,141,066 shares changed hands during mid-day trading, an increase of 174% from the average daily volume of 3,699,848 shares. The stock had previously closed at GBX 21.40.

Tungsten West Trading Down 13.6%

The company has a market capitalization of £35.22 million, a P/E ratio of -0.71 and a beta of -0.60. 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 business’s 50-day moving average price is GBX 11.18 and its two-hundred day moving average price is GBX 10.30.

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

Insiders Place Their Bets

In related news, insider Phil Povey bought 2,995,305 shares of Tungsten West 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. Insiders own 9.01% 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.