Kenmare Resources (LON:KMR) Stock Price Passes Above Two Hundred Day Moving Average – Here’s Why

Kenmare Resources plc (LON:KMR) shares passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 334.81 ($4.34) and traded as high as GBX 356 ($4.62). Kenmare Resources shares last traded at GBX 352.50 ($4.57), with a volume of 232,442 shares changing hands.

Analyst Ratings Changes

Separately, Berenberg Bank reaffirmed a “hold” rating and set a GBX 420 ($5.45) target price on shares of Kenmare Resources in a research note on Tuesday, August 13th.

Kenmare Resources Price Performance

The stock has a market cap of £314.54 million, a PE ratio of 510.87, a PEG ratio of 0.03 and a beta of 0.58. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.22 and a current ratio of 5.63. The stock’s 50-day moving average is GBX 336.06 and its two-hundred day moving average is GBX 334.81.

Kenmare Resources Cuts Dividend

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