Zanaga Iron Ore (LON:ZIOC) Trading Up 8.5% – Time to Buy?

Zanaga Iron Ore Company Limited (LON:ZIOC) shares traded up 8.5% on Friday . The stock traded as high as GBX 10.50 ($0.13) and last traded at GBX 10.05 ($0.13). 1,584,624 shares changed hands during mid-day trading, an increase of 3% from the average session volume of 1,534,425 shares. The stock had previously closed at GBX 9.26 ($0.12).

Zanaga Iron Ore Trading Up 8.5 %

The company’s fifty day moving average price is GBX 8.27 and its two-hundred day moving average price is GBX 6.14. 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 firm has a market cap of £87.39 million, a P/E ratio of -24,316.48 and a beta of 2.44.

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.