Kenmare Resources (LON:KMR) Stock Price Crosses Above 200-Day Moving Average – What’s Next?

Shares of Kenmare Resources plc (LON:KMR) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 340.34 ($4.45) and traded as high as GBX 384.59 ($5.03). Kenmare Resources shares last traded at GBX 382.50 ($5.01), with a volume of 76,462 shares changing hands.

Wall Street Analyst Weigh In

Separately, Berenberg Bank reiterated a “buy” rating and issued a GBX 580 ($7.59) price target on shares of Kenmare Resources in a research report on Wednesday, March 26th.

Kenmare Resources Price Performance

The business’s 50-day moving average price is GBX 356.43 and its 200 day moving average price is GBX 340.34. 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 has a market capitalization of £422.85 million, a PE ratio of 5.39, a price-to-earnings-growth ratio of 0.03 and a beta of 0.58.

Kenmare Resources Increases Dividend

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