Tungsten West (LON:TUN) Reaches New 52-Week High – Should You Buy?

Tungsten West PLC (LON:TUN)’s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as GBX 32 and last traded at GBX 29.35, with a volume of 7790271 shares traded. The stock had previously closed at GBX 26.50.

Tungsten West Trading Up 10.8%

The company has a market capitalization of £227.53 million, a P/E ratio of -1.13 and a beta of -0.60. The company has a 50-day simple moving average of GBX 12.46 and a 200 day simple moving average of GBX 10.78. The company has a debt-to-equity ratio of 63.33, a quick ratio of 7.04 and a current ratio of 0.33.

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

Insiders Place Their Bets

In related news, insider Phil Povey purchased 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. Insiders own 2.63% of the company’s stock.

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.