Australia's Mount Gibson Iron falls to one-month low on weaker annual earnings

MGX Resources

20/08/2025 06:59

** Shares of Mount Gibson Iron MGX.AX fall as much as 7.7% to A$0.360, their biggest intraday pct fall since April 7

** Stock hits its lowest level since July 21

** The iron ore producer reports full-year net loss of A$82.2 million ($52.96 million), from a net profit of A$6.4 million last year

** Co also posts FY revenue from ordinary activities of A$350.4 million, down 49% from last year

** About 3.1 mln shares traded, 1.7x the 30-day average

** YTD stock up 25.4%, including current session's move

($1 = 1.5521 Australian dollars)

 (Reporting by Ananya Verma in Bengaluru)

 ((ananya.verma@thomsonreuters.com;))