Alien Metals (LON:UFO) Trading 29.2% Higher – Here’s Why

Alien Metals Limited (LON:UFO) shares were up 29.2% on Tuesday . The stock traded as high as GBX 0.08 ($0.00) and last traded at GBX 0.08 ($0.00). Approximately 136,238,203 shares were traded during mid-day trading, an increase of 416% from the average daily volume of 26,400,316 shares. The stock had previously closed at GBX 0.07 ($0.00).

Alien Metals Stock Up 35.4 %

The firm has a market cap of £6.61 million, a price-to-earnings ratio of -4.85 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. The business’s 50-day moving average is GBX 0.07 and its 200-day moving average is GBX 0.09.

About Alien Metals

Alien Metals Ltd is a minerals exploration and development company in Western Australia. The company is currently developing its flagship Hancock Iron Ore Project, with the aim to produce DSO iron ore (direct shipping ore). By acquiring the Hancock Iron Ore Project, the Brockman Iron Ore Project and the Vivash Gorge Iron Ore Project, Alien Metals has turned all three projects into the Western Hancock Tenement and seeks to develop it with its 100% owned subsidiary the Iron Ore Company of Australia (IOCA).

Whilst also developing iron ore opportunities in Western Australia, the Company is also pursuing precious metals and platinum group metals opportunities by developing the Elizabeth Hill Silver Project and the Munni Munni PGM Project.