Kenmare Resources (LON:KMR) Stock Price Down 21.3% – Here’s What Happened

Kenmare Resources plc (LON:KMR)’s stock price traded down 21.3% during trading on Thursday . The stock traded as low as GBX 265.50 ($3.57) and last traded at GBX 310.06 ($4.17). 1,100,585 shares traded hands during mid-day trading, an increase of 658% from the average session volume of 145,215 shares. The stock had previously closed at GBX 394 ($5.30).

Analysts Set New Price Targets

Separately, Berenberg Bank reiterated a “buy” rating and set a GBX 580 ($7.80) price objective on shares of Kenmare Resources in a research note on Wednesday, March 26th.

Kenmare Resources Price Performance

The stock has a 50 day simple moving average of GBX 392.76 and a two-hundred day simple moving average of GBX 357.65. The firm has a market cap of £345.46 million, a PE ratio of 4.40, a price-to-earnings-growth ratio of 0.03 and a beta of 0.58. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.22 and a current ratio of 5.63.

Kenmare Resources Increases Dividend

The business also recently disclosed a dividend, which was paid on Friday, May 30th. Shareholders of record on Thursday, May 8th were paid a dividend of $0.17 per share. The ex-dividend date was Thursday, May 8th. This represents a dividend yield of 3.1%. This is a positive change from Kenmare Resources’s previous dividend of $0.15. Kenmare Resources’s dividend payout ratio (DPR) is presently 59.17%.

About Kenmare Resources

Kenmare Resources plc is one of the world’s largest producers of titanium minerals. Listed on the London Stock Exchange and the Euronext Dublin, Kenmare operates the Moma Titanium Minerals Mine in Mozambique. Moma’s production accounts for approximately 6% of global titanium feedstocks and the Company supplies to customers operating in more than 15 countries.