Kenmare Resources (LON:KMR) Shares Cross Above 200-Day Moving Average – Here’s What Happened

Kenmare Resources plc (LON:KMR)’s share price passed 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.

Analysts Set New Price Targets

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

Kenmare Resources Price Performance

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 business has a 50-day simple moving average of GBX 356.43 and a 200 day simple moving average of GBX 340.34. The firm has a market cap of £422.85 million, a P/E ratio of 5.39, a price-to-earnings-growth ratio of 0.03 and a beta of 0.58.

Kenmare Resources Increases Dividend

The firm also recently declared 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. The ex-dividend date is Thursday, May 8th. This represents a yield of 3.1%. Kenmare Resources’s dividend payout ratio (DPR) 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.