Alien Metals (LON:UFO) Trading Down 13.3% – Here’s Why

Alien Metals Limited (LON:UFO) fell 13.3% during trading on Wednesday . The stock traded as low as GBX 0.06 ($0.00) and last traded at GBX 0.07 ($0.00). 37,886,660 shares traded hands during trading, an increase of 66% from the average session volume of 22,829,559 shares. The stock had previously closed at GBX 0.08 ($0.00).

Alien Metals Stock Performance

The company has a 50-day moving average price of GBX 0.07 and a two-hundred day moving average price of GBX 0.09. The company has a market capitalization of £5.03 million, a PE ratio of -4.85 and a beta of 1.01. The company has a quick ratio of 4.22, a current ratio of 0.63 and a debt-to-equity ratio of 3.77.

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.