Tungsten West (LON:TUN) Shares Down 23.4% – What’s Next?

Tungsten West PLC (LON:TUN) shares dropped 23.4% during trading on Tuesday . The stock traded as low as GBX 7.50 and last traded at GBX 7.70. Approximately 1,717,836 shares were traded during mid-day trading, an increase of 96% from the average daily volume of 877,846 shares. The stock had previously closed at GBX 10.05.

Tungsten West Stock Performance

The company has a debt-to-equity ratio of 63.33, a quick ratio of 7.04 and a current ratio of 0.33. The business has a 50 day moving average price of GBX 10.25 and a two-hundred day moving average price of GBX 9.39. The company has a market cap of £15.05 million, a P/E ratio of -0.66 and a beta of -0.60.

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.