Tungsten West (LON:TUN) Stock Price Up 13.9% – Here’s What Happened

Tungsten West PLC (LON:TUN)’s share price traded up 13.9% during mid-day trading on Monday . The stock traded as high as GBX 32 and last traded at GBX 32. 9,511,843 shares traded hands during mid-day trading, an increase of 64% from the average session volume of 5,815,069 shares. The stock had previously closed at GBX 28.10.

Tungsten West Trading Up 13.9%

The stock has a fifty day simple moving average of GBX 15.83 and a 200 day simple moving average of GBX 11.94. The firm has a market capitalization of £248.07 million, a P/E ratio of -1.23 and a beta of -0.60. The company has a quick ratio of 7.04, a current ratio of 0.33 and a debt-to-equity ratio of 63.33.

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

Insider Activity at Tungsten West

In related news, insider Phil Povey bought 2,995,305 shares of the company’s stock in a transaction that occurred on Wednesday, December 31st. The stock was purchased at an average price of GBX 3 per share, for a total transaction of £89,859.15. Company insiders own 2.63% of the company’s stock.

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.