Tungsten West (LON:TUN) Stock Price Down 8.1% – Here’s Why

Tungsten West PLC (LON:TUN)’s stock price was down 8.1% during trading on Thursday . The company traded as low as GBX 32 and last traded at GBX 33. Approximately 7,508,422 shares traded hands during trading, an increase of 28% from the average daily volume of 5,876,056 shares. The stock had previously closed at GBX 35.90.

Tungsten West Stock Down 11.6%

The stock has a 50-day moving average of GBX 15.83 and a 200-day moving average of GBX 11.91. The company has a debt-to-equity ratio of 63.33, a current ratio of 0.33 and a quick ratio of 7.04. The firm has a market cap of £217.84 million, a price-to-earnings ratio of -1.08 and a beta of -0.60.

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

Insider Buying and Selling

In other Tungsten West news, insider Phil Povey acquired 2,995,305 shares of Tungsten West stock in a transaction dated Wednesday, December 31st. The stock was purchased at an average cost of GBX 3 per share, for a total transaction of £89,859.15. Company insiders own 2.63% of the company’s stock.

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.