Mount Gibson Iron (ASX:MGX) Stock Passes Below 200-Day Moving Average of $0.96

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Mount Gibson Iron Limited (ASX:MGX)’s stock price crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $0.96 and traded as low as $0.75. Mount Gibson Iron shares last traded at $0.77, with a volume of 7,947,297 shares traded.

The company’s 50-day moving average price is A$0.83 and its 200 day moving average price is A$0.96. The company has a debt-to-equity ratio of 0.29, a quick ratio of 5.73 and a current ratio of 6.12. The stock has a market capitalization of $864.51 million and a PE ratio of 6.38.

The business also recently announced a Final dividend, which will be paid on Thursday, September 26th. Stockholders of record on Thursday, September 26th will be given a $0.04 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a dividend yield of 5.48%. Mount Gibson Iron’s dividend payout ratio is 33.33%.

In related news, insider Hui Lee bought 1,060,000 shares of the company’s stock in a transaction dated Thursday, September 5th. The stock was purchased at an average cost of A$0.71 ($0.50) per share, with a total value of A$753,660.00 ($534,510.64).

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.

Read More: Dividend Reinvestment Plan (DRIP)

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