Strategic Minerals (LON:SML) Shares Up 7.5% – Should You Buy?

Strategic Minerals Plc (LON:SML) shares shot up 7.5% on Thursday . The stock traded as high as GBX 5 and last traded at GBX 4.89. 9,611,342 shares traded hands during mid-day trading, a decline of 70% from the average session volume of 32,543,820 shares. The stock had previously closed at GBX 4.55.

Strategic Minerals Trading Up 14.1%

The company’s fifty day moving average price is GBX 3.67 and its two-hundred day moving average price is GBX 2.08. The company has a current ratio of 0.98, a quick ratio of 1.49 and a debt-to-equity ratio of 13.25. The firm has a market cap of £146.35 million, a P/E ratio of 8.46 and a beta of 0.86.

Strategic Minerals Company Profile

Strategic Minerals (AIM: SML; USOTC: SMCDY) is a producing minerals company, actively developing strategic projects in the UK, United States and Australia.

In 2012, the company commenced production at its first magnetite operation, the Cobre stockpile in New Mexico, USA. Currently, the company’s main countries of operation are the UK and USA.

In March 2018, the Company completed the acquisition of the Leigh Creek Copper Mine situated in the copper rich belt of South Australia. The company continues to seek opportunities to monetise the asset.

In 2019, the company completed the 100% acquisition of Cornwall Resources Limited and the Redmoor Tungsten-Tin-Copper Project, with a 2019 JORC-compliant, Inferred Mineral Resource Estimate of 11.7Mt at 1.17% Tin equivalent, made up of Tungsten, Tin and Copper.
Strategic Minerals’ primary objective is to utilise cash flow from existing operations in the USA to accelerate development of the Redmoor Tungsten-Tin-Copper Project in Cornwall, UK with world-class potential.