Kenmare Resources (LON:KMR) PT Raised to GBX 440

Kenmare Resources (LON:KMR) had its target price hoisted by Peel Hunt from GBX 430 ($5.62) to GBX 440 ($5.75) in a research note published on Wednesday morning, ThisIsMoney.Co.Uk reports. The firm currently has a buy rating on the stock.

Several other brokerages have also issued reports on KMR. Canaccord Genuity cut their target price on Surge Energy from C$2.75 to C$2.25 and set a buy rating for the company in a research note on Wednesday, March 13th. Berenberg Bank increased their price target on shares of from GBX 1,915 ($25.02) to GBX 2,025 ($26.46) and gave the company a buy rating in a research report on Tuesday, June 4th.

Shares of Kenmare Resources stock opened at GBX 188 ($2.46) on Wednesday. The company has a debt-to-equity ratio of 9.84, a current ratio of 3.72 and a quick ratio of 2.47. The company has a market cap of $206.05 million and a price-to-earnings ratio of 4.09. The firm’s 50-day moving average price is GBX 185.61. Kenmare Resources has a 12 month low of GBX 174 ($2.27) and a 12 month high of GBX 264 ($3.45).

In related news, insider Tony McCluskey bought 8,858 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The stock was bought at an average cost of GBX 189 ($2.47) per share, for a total transaction of £16,741.62 ($21,875.89). Also, insider Gabriel Smith purchased 10,000 shares of Kenmare Resources stock in a transaction that occurred on Wednesday, May 22nd. The shares were bought at an average price of GBX 206 ($2.69) per share, for a total transaction of £20,600 ($26,917.55).

About Kenmare Resources

Kenmare Resources plc, together with its subsidiaries, operates as a mining company primarily in Europe, Asia, the United States, and internationally. The company operates the Moma Titanium Minerals Mine located on the north east coast of Mozambique that contains heavy mineral reserves, such as ilmenite and rutile titanium minerals primarily used to produce titanium dioxide pigment, as well as zircon.

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