Zanaga Iron Ore (LON:ZIOC) Shares Up 17.1% - Still a Buy?

Key Points

• Zanaga Iron Ore Company's shares surged 17.1% during mid-day trading, reaching GBX 9.06 ($0.12), up from a previous close of GBX 7.74 ($0.10).
• Trading volume increased significantly by 642%, with approximately 7.8 million shares changing hands compared to the average daily volume of about 1 million shares.
• The company, which focuses on iron ore exploration and development, is known for its 100% owned Zanaga Iron Ore Project in the Republic of Congo.

Zanaga Iron Ore Company Limited (LON:ZIOC - Get Free Report)'s share price shot up 17.1% during trading on Wednesday . The company traded as high as GBX 9.75 ($0.13) and last traded at GBX 9.06 ($0.12). 7,803,024 shares were traded during trading, an increase of 642% from the average session volume of 1,050,987 shares. The stock had previously closed at GBX 7.74 ($0.10).

Zanaga Iron Ore Price Performance

The company has a debt-to-equity ratio of 1.00, a quick ratio of 2.83 and a current ratio of 0.08. The company has a market cap of £70.61 million, a price-to-earnings ratio of -19,646.75 and a beta of 2.44. The business has a fifty day moving average price of GBX 7.88 and a 200 day moving average price of GBX 7.84.

Zanaga Iron Ore Company Profile

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.