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

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 338.18 ($4.36) and traded as high as GBX 402 ($5.19). Kenmare Resources shares last traded at GBX 399 ($5.15), with a volume of 106,286 shares.

Analyst Ratings Changes

Separately, Berenberg Bank reiterated a “buy” rating and issued a GBX 580 ($7.48) price objective on shares of Kenmare Resources in a report on Wednesday, March 26th.

Kenmare Resources Stock Down 6.5 %

The firm has a market capitalization of £412.35 million, a price-to-earnings ratio of 5.26, a P/E/G ratio of 0.03 and a beta of 0.58. The company has a debt-to-equity ratio of 0.12, a current ratio of 5.63 and a quick ratio of 1.22. The stock has a fifty day moving average of GBX 347.26 and a two-hundred day moving average of GBX 338.45.

Kenmare Resources Increases Dividend

The business also recently disclosed a dividend, which will be paid on Friday, May 30th. Investors of record on Thursday, May 8th will be paid a $0.17 dividend. This is a positive change from Kenmare Resources’s previous dividend of $0.15. This represents a dividend yield of 3.1%. The ex-dividend date of this dividend is Thursday, May 8th. Kenmare Resources’s payout ratio is currently 59.17%.

About Kenmare Resources

Kenmare Resources plc is an Ireland-based mining company. The Company operates the Moma Titanium Minerals Mine, located on the northeast coast of Mozambique. The Moma Mine contains deposits of heavy minerals, which include the titanium minerals ilmenite and rutile, as well as the zirconium silicate mineral, zircon.