Kenmare Resources’ (KMR) Buy Rating Reiterated at Berenberg Bank

Berenberg Bank restated their buy rating on shares of Kenmare Resources (LON:KMR) in a research report report published on Wednesday,London Stock Exchange reports. They currently have a GBX 580 ($7.47) target price on the stock.

Kenmare Resources Price Performance

Shares of LON:KMR traded down GBX 16 ($0.21) during trading hours on Wednesday, hitting GBX 414 ($5.33). 161,036 shares of the company’s stock traded hands, compared to its average volume of 176,261. The company’s fifty day simple moving average is GBX 335.13 and its two-hundred day simple moving average is GBX 335.30. The company has a market cap of £457.67 million, a price-to-earnings ratio of 5.83, a price-to-earnings-growth 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. Kenmare Resources has a 52 week low of GBX 270 ($3.48) and a 52 week high of GBX 450 ($5.79).

Kenmare Resources Increases Dividend

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

Kenmare Resources Company Profile

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.