Berenberg Bank Reaffirms “Hold” Rating for Kenmare Resources (LON:KMR)

Berenberg Bank restated their hold rating on shares of Kenmare Resources (LON:KMR) in a report published on Tuesday, MarketBeat Ratings reports. Berenberg Bank currently has a GBX 420 ($5.36) target price on the stock.

Kenmare Resources Trading Up 3.3 %

Shares of KMR opened at GBX 349 ($4.46) on Tuesday. The business’s 50-day moving average price is GBX 327.89 and its 200 day moving average price is GBX 326.42. The stock has a market capitalization of £311.41 million, a P/E ratio of 323.15, a P/E/G ratio of 0.03 and a beta of 0.52. Kenmare Resources has a 1-year low of GBX 291 ($3.72) and a 1-year high of GBX 445.50 ($5.69). The company has a current ratio of 4.04, a quick ratio of 1.22 and a debt-to-equity ratio of 4.32.

Kenmare Resources Cuts Dividend

The firm also recently announced a dividend, which will be paid on Friday, October 11th. Shareholders of record on Thursday, September 19th will be paid a dividend of $0.15 per share. The ex-dividend date is Thursday, September 19th. This represents a yield of 3.57%. Kenmare Resources’s dividend payout ratio (DPR) is presently 4,166.67%.

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.