Alien Metals (LON:UFO) Trading Down 7.6% – Here’s Why

Alien Metals Limited (LON:UFO) shares fell 7.6% on Thursday . The stock traded as low as GBX 0.17 and last traded at GBX 0.19. 539,116,438 shares changed hands during mid-day trading, an increase of 202% from the average session volume of 178,350,203 shares. The stock had previously closed at GBX 0.21.

Alien Metals Stock Performance

The stock’s 50-day moving average price is GBX 0.14 and its 200 day moving average price is GBX 0.15. The company has a quick ratio of 4.22, a current ratio of 0.63 and a debt-to-equity ratio of 3.77. The company has a market cap of £22.44 million, a P/E ratio of -8.26 and a beta of 1.01.

About Alien Metals

Alien Metals Limited is a mining exploration and development company listed on the AIM market of the London Stock Exchange (AIM: UFO). The Company’s focus is on delivering a profitable direct shipping iron ore operation from it 90% Hancock iron ore project in the central Pilbara region of Western Australia. The Hancock tenements currently contain a JORC-compliant resource of 8.4Mt iron ore @ 60% Fe and offers significant exploration upside which is targeted to deliver a mining operation of 2Mtpa for 10 years.

These Hancock Project tenements have direct access to the Great Northern Highway, which provides an essential export route to export facilities at Port Hedland, from where more than 500Mt of iron ore is exported annually (30% of global production).