Tungsten West (LON:TUN) Stock Falls 0.3% – Here’s What Happened

Tungsten West PLC (LON:TUN) dropped 0.3% during trading on Friday. The company traded as low as GBX 38 and last traded at GBX 38.50. 15,254,344 shares were traded during mid-day trading, an increase of 286% from the average session volume of 3,949,674 shares. The stock had previously closed at GBX 38.60.

Tungsten West Stock Performance

The company has a market cap of £621.02 million, a PE ratio of -3.21 and a beta of 0.28. The company has a debt-to-equity ratio of 3.17, a quick ratio of 7.04 and a current ratio of 8.01. The company’s 50 day moving average price is GBX 45.17 and its 200-day moving average price is GBX 39.97.

Tungsten West (LON:TUN) last issued its earnings results on Thursday, September 3rd. The company reported GBX (12) earnings per share (EPS) for the quarter. Tungsten West had a negative net margin of 29,165.70% and a negative return on equity of 2,022.63%.

About Tungsten West

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.