Tungsten West (LON:TUN) Sets New 1-Year High – Should You Buy?

Tungsten West PLC (LON:TUN)’s stock price hit a new 52-week high during trading on Friday . The company traded as high as GBX 19 and last traded at GBX 17.50, with a volume of 9213348 shares. The stock had previously closed at GBX 15.

Tungsten West Price Performance

The business’s fifty day moving average price is GBX 10.88 and its 200-day moving average price is GBX 10.18. The company has a market capitalization of £33.32 million, a P/E ratio of -0.67 and a beta of -0.60. The company has a current ratio of 0.33, a quick ratio of 7.04 and a debt-to-equity ratio of 63.33.

Tungsten West (LON:TUN) last released its quarterly 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 negative return on equity of 44.58%.

Insiders Place Their Bets

In other news, insider Phil Povey bought 2,995,305 shares of the business’s stock in a transaction on Wednesday, December 31st. The stock was acquired at an average price of GBX 3 per share, with a total value of £89,859.15. 9.01% of the stock is owned by 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.