Alien Metals (LON:UFO) Shares Up 7% – Time to Buy?

Shares of Alien Metals Limited (LON:UFO) rose 7% on Monday . The stock traded as high as GBX 0.15 and last traded at GBX 0.14. Approximately 193,407,156 shares traded hands during mid-day trading, an increase of 123% from the average daily volume of 86,645,570 shares. The stock had previously closed at GBX 0.13.

Alien Metals Stock Up 7.0%

The firm has a 50 day moving average of GBX 0.13 and a 200 day moving average of GBX 0.14. The firm has a market cap of £12.70 million, a price-to-earnings ratio of -5.83 and a beta of 1.01. The company has a quick ratio of 4.22, a current ratio of 0.63 and a debt-to-equity ratio of 3.77.

Alien Metals Company Profile

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).