Kenmare Resources (LON:KMR) Share Price Passes Above 200-Day Moving Average - Here's Why

Kenmare Resources plc (LON:KMR - Get Free Report) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 335.63 ($4.37) and traded as high as GBX 359 ($4.67). Kenmare Resources shares last traded at GBX 352 ($4.58), with a volume of 23,276 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank reiterated a "hold" rating and set a GBX 420 ($5.47) target price on shares of Kenmare Resources in a research report on Tuesday, August 13th.

Kenmare Resources Price Performance

The company has a quick ratio of 1.22, a current ratio of 5.63 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of £312.31 million, a price-to-earnings ratio of 505.83, a P/E/G ratio of 0.03 and a beta of 0.58. The company has a fifty day moving average price of GBX 336.42 and a two-hundred day moving average price of GBX 335.63.

Kenmare Resources Cuts Dividend

The business also recently declared a dividend, which was paid on Friday, October 11th. Investors of record on Thursday, September 19th were issued a dividend of $0.15 per share. This represents a dividend yield of 3.57%. The ex-dividend date of this dividend was Thursday, September 19th. Kenmare Resources's dividend payout ratio is currently 6,086.96%.

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.