Mount Gibson Iron (ASX:MGX) Stock Price Passes Above 50-Day Moving Average of $0.76

Shares of Mount Gibson Iron Limited (ASX:MGX) crossed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $0.76 and traded as high as $0.73. Mount Gibson Iron shares last traded at $0.73, with a volume of 3,050,255 shares.

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 company has a market cap of $813.66 million and a P/E ratio of 6.00. The firm has a 50 day moving average price of A$0.75 and a two-hundred day moving average price of A$0.97.

The business also recently disclosed a Final dividend, which was paid on Thursday, September 26th. Investors of record on Thursday, September 26th were issued a dividend of $0.04 per share. The ex-dividend date was Tuesday, September 3rd. This represents a yield of 5.48%. Mount Gibson Iron’s dividend payout ratio (DPR) is 33.33%.

In related news, insider Hui Lee acquired 130,000 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were acquired at an average price of A$0.75 ($0.53) per share, with a total value of A$97,500.00 ($69,148.94). Insiders have purchased a total of 2,616,607 shares of company stock worth $1,900,778 in the last three months.

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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