Alien Metals (LON:UFO) Shares Up 13.6% – Still a Buy?

Alien Metals Limited (LON:UFO) shares rose 13.6% during mid-day trading on Friday . The stock traded as high as GBX 0.16 and last traded at GBX 0.16. Approximately 170,207,063 shares changed hands during trading, an increase of 92% from the average daily volume of 88,809,508 shares. The stock had previously closed at GBX 0.14.

Alien Metals Price Performance

The company has a 50 day moving average of GBX 0.12 and a 200 day moving average of GBX 0.15. The company has a quick ratio of 4.22, a current ratio of 0.63 and a debt-to-equity ratio of 3.77. The stock has a market capitalization of £18.36 million, a price-to-earnings ratio of -6.77 and a beta of 1.01.

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).