Alien Metals (LON:UFO) Shares Down 9.8% – Should You Sell?

Alien Metals Limited (LON:UFO) was down 9.8% during mid-day trading on Tuesday . The stock traded as low as GBX 0.18 and last traded at GBX 0.20. Approximately 460,432,625 shares were traded during mid-day trading, an increase of 207% from the average daily volume of 149,969,563 shares. The stock had previously closed at GBX 0.23.

Alien Metals Trading Down 10.7%

The business has a 50-day moving average of GBX 0.13 and a 200-day moving average of GBX 0.15. The stock has a market capitalization of £23.21 million, a price-to-earnings ratio of -8.55 and a beta of 1.01. The company has a debt-to-equity ratio of 3.77, a quick ratio of 4.22 and a current ratio of 0.63.

About Alien Metals

Alien Metals Limited is a mining exploration and development company listed on the AIM market of the London Stock Exchange (AIM: UFO). The Company’s focus is on delivering a profitable direct shipping iron ore operation from it 90% Hancock iron ore project in the central Pilbara region of Western Australia. The Hancock tenements currently contain a JORC-compliant resource of 8.4Mt iron ore @ 60% Fe and offers significant exploration upside which is targeted to deliver a mining operation of 2Mtpa for 10 years.

These Hancock Project tenements have direct access to the Great Northern Highway, which provides an essential export route to export facilities at Port Hedland, from where more than 500Mt of iron ore is exported annually (30% of global production).