Kenmare Resources (LON:KMR) Given Buy Rating at Berenberg Bank

Berenberg Bank reaffirmed their buy rating on shares of Kenmare Resources (LON:KMR) in a research note released on Wednesday morning,London Stock Exchange reports. The brokerage currently has a GBX 580 ($7.47) price target on the stock.

Kenmare Resources Price Performance

KMR stock traded down GBX 16 ($0.21) during trading on Wednesday, hitting GBX 414 ($5.33). The company had a trading volume of 161,036 shares, compared to its average volume of 176,261. The business has a 50 day moving average of GBX 335.13 and a 200 day moving average of GBX 335.30. The firm has a market capitalization of £457.67 million, a price-to-earnings ratio of 5.83, a P/E/G ratio of 0.03 and a beta of 0.58. The company has a current ratio of 5.63, a quick ratio of 1.22 and a debt-to-equity ratio of 0.12. Kenmare Resources has a fifty-two week low of GBX 270 ($3.48) and a fifty-two week high of GBX 450 ($5.79).

Kenmare Resources Increases Dividend

The business also recently disclosed a dividend, which will be paid on Friday, May 30th. Stockholders of record on Thursday, May 8th will be issued a $0.17 dividend. The ex-dividend date is Thursday, May 8th. This is a boost from Kenmare Resources’s previous dividend of $0.15. This represents a dividend yield of 3.1%. Kenmare Resources’s dividend payout ratio (DPR) 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.