Strategic Minerals (LON:SML) Stock Price Up 13.2% – Still a Buy?

Strategic Minerals Plc (LON:SML)’s stock price shot up 13.2% on Tuesday . The stock traded as high as GBX 6 and last traded at GBX 6. Approximately 35,785,664 shares changed hands during trading, an increase of 37% from the average daily volume of 26,028,707 shares. The stock had previously closed at GBX 5.30.

Strategic Minerals Price Performance

The company has a current ratio of 0.72, a quick ratio of 1.49 and a debt-to-equity ratio of 12.12. The company has a 50 day moving average of GBX 4.15 and a 200-day moving average of GBX 4.48. The firm has a market capitalization of £169.13 million, a P/E ratio of -857.14 and a beta of 0.87.

Insider Buying and Selling at Strategic Minerals

In other news, insider Philip Haydn-Slater bought 2,000,000 shares of the company’s stock in a transaction dated Wednesday, July 29th. The stock was bought at an average price of GBX 4 per share, with a total value of £80,000. Corporate insiders own 14.80% of the company’s stock.

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.