Alien Metals (LON:UFO) Trading 15.2% Higher – Time to Buy?

Alien Metals Limited (LON:UFO)’s share price was up 15.2% during trading on Wednesday . The stock traded as high as GBX 0.22 and last traded at GBX 0.19. Approximately 306,928,031 shares changed hands during mid-day trading, an increase of 91% from the average daily volume of 160,977,672 shares. The stock had previously closed at GBX 0.17.

Alien Metals Price Performance

The company has a 50-day moving average of GBX 0.13 and a two-hundred day moving average of GBX 0.15. The company has a debt-to-equity ratio of 3.77, a current ratio of 0.63 and a quick ratio of 4.22. The stock has a market capitalization of £22.98 million, a PE ratio of -8.47 and a beta of 1.01.

Alien Metals Company Profile

Alien Metals Limited is a mining exploration and development company listed on the AIM market of the London Stock Exchange (AIM: UFO). The Company’s focus is on delivering a profitable direct shipping iron ore operation from it 90% Hancock iron ore project in the central Pilbara region of Western Australia. The Hancock tenements currently contain a JORC-compliant resource of 8.4Mt iron ore @ 60% Fe and offers significant exploration upside which is targeted to deliver a mining operation of 2Mtpa for 10 years.

These Hancock Project tenements have direct access to the Great Northern Highway, which provides an essential export route to export facilities at Port Hedland, from where more than 500Mt of iron ore is exported annually (30% of global production).