Tungsten West (LON:TUN) Stock Price Up 14.1% – Here’s Why

Tungsten West PLC (LON:TUN)’s share price shot up 14.1% during trading on Thursday . The stock traded as high as GBX 14 and last traded at GBX 13.98. 2,071,757 shares traded hands during trading, a decline of 7% from the average session volume of 2,235,418 shares. The stock had previously closed at GBX 12.25.

Tungsten West Stock Up 16.7%

The business has a 50-day simple moving average of GBX 10.99 and a two-hundred day simple moving average of GBX 10.23. The company has a market cap of £33.32 million, a price-to-earnings ratio of -0.67 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.

Tungsten West (LON:TUN) last issued its quarterly earnings data on Wednesday, December 24th. The company reported GBX (21.40) EPS for the quarter. Tungsten West had a negative net margin of 1,343.41% and a negative return on equity of 44.58%.

Insider Activity at Tungsten West

In other news, insider Phil Povey acquired 2,995,305 shares of Tungsten West stock in a transaction dated Wednesday, December 31st. The stock was acquired at an average cost of GBX 3 per share, for a total transaction of £89,859.15. 9.01% of the stock is currently owned by corporate insiders.

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. 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.