Tungsten West (LON:TUN) Stock Price Down 9.5% – Should You Sell?

Tungsten West PLC (LON:TUN) traded down 9.5% during mid-day trading on Friday . The company traded as low as GBX 9.50 ($0.13) and last traded at GBX 9.95 ($0.13). 1,842,058 shares traded hands during trading, an increase of 101% from the average session volume of 915,560 shares. The stock had previously closed at GBX 11 ($0.15).

Tungsten West Stock Down 9.1%

The stock has a market capitalization of £20.84 million, a PE ratio of -2.13 and a beta of -0.60. The business has a 50 day moving average of GBX 7.48 and a two-hundred day moving average of GBX 4.96. The company has a debt-to-equity ratio of 63.33, a quick ratio of 7.04 and a current ratio of 0.33.

Insider Transactions at Tungsten West

In related news, insider Richard William Macfarlane Maxey sold 210,000 shares of the company’s stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of GBX 7 ($0.09), for a total value of £14,700 ($19,731.54). Insiders own 29.62% of the company’s stock.

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.