Tungsten West (LON:TUN) Stock Price Down 8.2% – Time to Sell?

Shares of Tungsten West PLC (LON:TUN) dropped 8.2% during mid-day trading on Friday . The company traded as low as GBX 9.89 ($0.13) and last traded at GBX 10.33 ($0.14). Approximately 116,376 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 900,578 shares. The stock had previously closed at GBX 11.25 ($0.15).

Tungsten West Price Performance

The company has a market capitalization of £21.46 million, a P/E ratio of -2.19 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. The business has a 50 day simple moving average of GBX 6.79 and a 200-day simple moving average of GBX 4.71.

Insiders Place Their Bets

In other Tungsten West news, insider Richard William Macfarlane Maxey sold 210,000 shares of the company’s stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of GBX 7 ($0.09), for a total value of £14,700 ($19,830.03). 29.62% of the stock is currently owned by corporate 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.