Tungsten West (LON:TUN) Shares Up 3.2% – Still a Buy?

Tungsten West PLC (LON:TUN) shot up 3.2% during mid-day trading on Monday . The company traded as high as GBX 34 and last traded at GBX 32. 5,826,691 shares changed hands during trading, an increase of 27% from the average session volume of 4,573,407 shares. The stock had previously closed at GBX 31.

Tungsten West Trading Down 0.6%

The company has a quick ratio of 7.04, a current ratio of 0.06 and a debt-to-equity ratio of -167.64. The firm has a market cap of £388.44 million, a P/E ratio of -1.23 and a beta of 0.09. The firm’s 50-day simple moving average is GBX 22.79 and its 200 day simple moving average is GBX 14.53.

Tungsten West (LON:TUN) last released its earnings results on Wednesday, December 24th. The company reported GBX (21.40) earnings per share for the quarter. Tungsten West had a negative net margin of 1,343.41% and a positive return on equity of 233.54%.

Insider Activity

In other news, insider Phil Povey bought 2,995,305 shares of the stock in a transaction on Wednesday, December 31st. The shares were purchased at an average cost of GBX 3 per share, for a total transaction of £89,859.15. 1.83% of the stock is currently owned by 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. 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.