Tungsten West (LON:TUN) Trading Up 19.7% – Should You Buy?

Tungsten West PLC (LON:TUN)’s stock price was up 19.7% during trading on Thursday . The company traded as high as GBX 10.50 ($0.14) and last traded at GBX 10.39 ($0.14). Approximately 2,050,340 shares changed hands during mid-day trading, an increase of 169% from the average daily volume of 762,888 shares. The stock had previously closed at GBX 8.68 ($0.12).

Tungsten West Price Performance

The stock has a market capitalization of £21.38 million, a P/E ratio of -2.18 and a beta of -0.60. The company’s 50 day simple moving average is GBX 5.11 and its two-hundred day simple moving average is GBX 4.09. The company has a debt-to-equity ratio of 63.33, a current ratio of 0.33 and a quick ratio of 7.04.

Insider Transactions at Tungsten West

In other news, insider Richard William Macfarlane Maxey sold 210,000 shares of the firm’s stock in a transaction on Thursday, June 5th. The stock was sold at an average price of GBX 7 ($0.10), for a total value of £14,700 ($20,084.71). 29.62% 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.