Tungsten West (LON:TUN) Reaches New 52-Week High – What’s Next?

Tungsten West PLC (LON:TUN)’s stock price hit a new 52-week high during mid-day trading on Friday . The stock traded as high as GBX 19 and last traded at GBX 17.50, with a volume of 9213348 shares traded. The stock had previously closed at GBX 15.

Tungsten West Stock Performance

The company has a 50 day moving average of GBX 10.88 and a two-hundred day moving average of GBX 10.18. The company has a debt-to-equity ratio of 63.33, a current ratio of 0.33 and a quick ratio of 7.04. The company has a market capitalization of £33.32 million, a PE ratio of -0.67 and a beta of -0.60.

Tungsten West (LON:TUN) last announced its earnings results on Wednesday, December 24th. The company reported GBX (21.40) EPS for the quarter. Tungsten West had a negative net margin of 1,343.41% and a negative return on equity of 44.58%.

Insiders Place Their Bets

In other Tungsten West news, insider Phil Povey acquired 2,995,305 shares of the stock in a transaction that occurred on Wednesday, December 31st. The shares were acquired at an average cost of GBX 3 per share, with a total value of £89,859.15. 9.01% of the stock is currently owned by 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. The Company is focused on rebuilding and restarting the mine to supply two critically important strategic minerals in tungsten and tin both domestically and globally.