Kenmare Resources (LON:KMR) Share Price Passes Above 200-Day Moving Average – Here’s What Happened

Kenmare Resources plc (LON:KMR)’s stock price crossed 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.

Wall Street Analyst Weigh In

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

Kenmare Resources Stock Performance

The stock has a fifty day moving average price of GBX 336.52 and a 200-day moving average price of GBX 335.73. The firm has a market cap of £305.17 million, a price-to-earnings ratio of 507.25, a price-to-earnings-growth ratio of 0.03 and a beta of 0.58. The company has a quick ratio of 1.22, a current ratio of 5.63 and a debt-to-equity ratio of 0.12.

Kenmare Resources Cuts Dividend

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

About Kenmare Resources

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.