Berenberg Bank Reiterates “Hold” Rating for Kenmare Resources (LON:KMR)

Berenberg Bank reiterated their hold rating on shares of Kenmare Resources (LON:KMR) in a research report sent to investors on Tuesday morning, Marketbeat reports. The brokerage currently has a GBX 420 ($5.36) price target on the stock.

Kenmare Resources Stock Up 0.6 %

KMR stock opened at GBX 351 ($4.48) on Tuesday. The firm’s 50-day simple moving average is GBX 327.95 and its 200 day simple moving average is GBX 326.74. Kenmare Resources has a fifty-two week low of GBX 291 ($3.72) and a fifty-two week high of GBX 445.50 ($5.69). The stock has a market cap of £313.20 million, a PE ratio of 325.00, a price-to-earnings-growth ratio of 0.03 and a beta of 0.52. The company has a quick ratio of 1.22, a current ratio of 4.04 and a debt-to-equity ratio of 4.32.

Kenmare Resources Cuts Dividend

The firm also recently declared a dividend, which will be paid on Friday, October 11th. Stockholders of record on Thursday, September 19th will be issued a dividend of $0.15 per share. This represents a dividend yield of 3.57%. The ex-dividend date of this dividend is Thursday, September 19th. Kenmare Resources’s dividend payout ratio (DPR) is 4,166.67%.

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.