Zanaga Iron Ore (LON:ZIOC) Stock Falls 28.3% – Time to Sell?

Zanaga Iron Ore Company Limited (LON:ZIOC) shares dropped 28.3% on Tuesday. The stock traded as low as GBX 2 and last traded at GBX 2.15. 17,284,125 shares traded hands during mid-day trading, an increase of 653% from the average daily volume of 2,295,990 shares. The stock had previously closed at GBX 3.

Zanaga Iron Ore Stock Performance

The company’s fifty day simple moving average is GBX 3.27 and its two-hundred day simple moving average is GBX 4.54. The company has a market capitalization of £20.81 million, a price-to-earnings ratio of -2.33 and a beta of 1.86. The company has a quick ratio of 2.83, a current ratio of 8.62 and a debt-to-equity ratio of 0.08.

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. Zanaga Iron Ore Company Limited was incorporated in 2009 and is based in Road Town, the British Virgin Islands.