Kenmare Resources (LON:KMR) Shares Pass Above Two Hundred Day Moving Average – What’s Next?

Kenmare Resources plc (LON:KMR) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 335.63 ($4.37) and traded as high as GBX 359 ($4.67). Kenmare Resources shares last traded at GBX 352 ($4.58), with a volume of 23,276 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank reissued a “hold” rating and set a GBX 420 ($5.47) target price on shares of Kenmare Resources in a research report on Tuesday, August 13th.

Kenmare Resources Stock Performance

The firm’s fifty day moving average price is GBX 336.42 and its 200-day moving average price is GBX 335.63. The company has a current ratio of 5.63, a quick ratio of 1.22 and a debt-to-equity ratio of 0.12. The firm has a market cap of £311.43 million, a price-to-earnings ratio of 510.14, a PEG ratio of 0.03 and a beta of 0.58.

Kenmare Resources Cuts Dividend

The company also recently disclosed a dividend, which was paid on Friday, October 11th. Shareholders of record on Thursday, September 19th were issued a dividend of $0.15 per share. This represents a dividend yield of 3.57%. The ex-dividend date of this dividend was Thursday, September 19th. Kenmare Resources’s payout ratio is 6,086.96%.

Kenmare Resources Company Profile

Kenmare Resources plc, together with its subsidiaries, engages in the production and sale of mineral sand products in China, the rest of Asia, Europe, the United States, and internationally. It operates the Moma Titanium Minerals Mine located on the northeast coast of Mozambique. The company's products include ilmenite, rutile, and zircon; monazite; and concentrates, including secondary zircon and mineral sand concentrates.