Mount Gibson Iron (ASX:MGX) Stock Price Passes Above Fifty Day Moving Average of $0.79

Mount Gibson Iron Limited (ASX:MGX) passed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $0.79 and traded as high as $0.85. Mount Gibson Iron shares last traded at $0.85, with a volume of 3,008,731 shares.

The stock has a 50 day moving average of A$0.79 and a 200-day moving average of A$0.90. The company has a current ratio of 6.12, a quick ratio of 5.73 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $984.03 million and a P/E ratio of 7.08.

In other Mount Gibson Iron news, insider Hui Lee acquired 550,555 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were bought at an average price of A$0.74 ($0.53) per share, with a total value of A$408,511.81 ($289,724.69). In the last 90 days, insiders have purchased 936,607 shares of company stock valued at $695,138.

About Mount Gibson Iron (ASX:MGX)

Mount Gibson Iron Limited, together with its subsidiaries, engages in the mining, exploration, crushing, transportation, and sale of hematite iron ore deposits in Australia. The company primarily operates the Koolan Island mine located in the Kimberley coast of Western Australia; and the Extension Hill/Iron Hill mine located in the Mount Gibson range in the mid-west region of Western Australia.

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