Zanaga Iron Ore (LON:ZIOC) Shares Cross Below Two Hundred Day Moving Average - Here's What Happened

Key Points

• Zanaga Iron Ore shares fell below their 200-day moving average of GBX 7.88, trading at GBX 7.34 during Thursday's session.
• The company has a significant market capitalization of £60.29 million and a P/E ratio of -16,774.74, indicating negative earnings.
• Zanaga Iron Ore is focused on the exploration and development of iron ore properties, with its flagship asset located in the Republic of Congo.

Shares of Zanaga Iron Ore Company Limited (LON:ZIOC - ) passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 7.88 ($0.11) and traded as low as GBX 7.34 ($0.10). Zanaga Iron Ore shares last traded at GBX 7.34 ($0.10), with a volume of 3,388,873 shares changing hands.

Zanaga Iron Ore Stock Performance

The company has a market cap of £60.29 million, a P/E ratio of -16,774.74 and a beta of 2.44. The company has a current ratio of 0.08, a quick ratio of 2.83 and a debt-to-equity ratio of 1.00. The company's fifty day moving average is GBX 7.86 and its 200 day moving average is GBX 7.88.

About Zanaga Iron Ore

Zanaga Iron Ore Company Limited, an investment holding company, engages in the exploration and development of iron ore properties. Its flagship asset is the 100% owned Zanaga Iron Ore Project located in the south west of the Republic of Congo. The company was formerly known as Jumelles Holdings Limited and changed its name to Zanaga Iron Ore Company Limited in October 2010.

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