Shares of Tungsten West PLC (LON:TUN – Get Free Report) dropped 8.9% during mid-day trading on Wednesday . The company traded as low as GBX 32.50 and last traded at GBX 33.50. Approximately 5,481,812 shares were traded during trading, an increase of 28% from the average daily volume of 4,281,826 shares. The stock had previously closed at GBX 36.77.
Tungsten West Stock Performance
The stock has a fifty day simple moving average of GBX 38.69 and a 200-day simple moving average of GBX 27.11. The stock has a market cap of £456.65 million, a P/E ratio of -1.41 and a beta of 0.28. The company has a debt-to-equity ratio of -167.64, a quick ratio of 7.04 and a current ratio of 0.06.
Tungsten West Company Profile
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.
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