Tungsten West (LON:TUN) Hits New 12-Month High – Here’s Why

Tungsten West PLC (LON:TUN) shares reached a new 52-week high on Thursday . The company traded as high as GBX 41 and last traded at GBX 40.64, with a volume of 1802405 shares. The stock had previously closed at GBX 39.

Tungsten West Price Performance

The company has a debt-to-equity ratio of -167.64, a current ratio of 0.06 and a quick ratio of 7.04. The stock’s 50 day simple moving average is GBX 31.59 and its two-hundred day simple moving average is GBX 18.10. The stock has a market cap of £516.41 million, a price-to-earnings ratio of -1.59 and a beta of 0.30.

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.