Kumba Iron Ore (OTCMKTS:KIROY) Shares Gap Down – What’s Next?

Kumba Iron Ore Ltd. (OTCMKTS:KIROY) gapped down before the market opened on Tuesday . The stock had previously closed at $6.25, but opened at $5.88. Kumba Iron Ore shares last traded at $5.86, with a volume of 734 shares.

Wall Street Analyst Weigh In

Separately, HSBC cut shares of Kumba Iron Ore to a “hold” rating in a research note on Monday, July 28th. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has an average rating of “Hold”.

Kumba Iron Ore Stock Down 4.3%

The firm’s fifty day simple moving average is $5.77 and its 200 day simple moving average is $5.86.

Kumba Iron Ore Cuts Dividend

The company also recently announced a dividend, which will be paid on Thursday, September 4th. Shareholders of record on Monday, August 25th will be issued a $0.2254 dividend. This represents a yield of 859.0%. The ex-dividend date of this dividend is Friday, August 22nd.

Kumba Iron Ore Company Profile

Kumba Iron Ore Limited, together with its subsidiaries, engages in the exploration, extraction, beneficiation, marketing, sale, and shipping of iron ore for the steel industry primarily in South Africa, China, rest of Asia, Europe, the Middle East, and North Africa. It produces iron ore at Sishen and Kolomela mines in the Northern Cape Province.