Kenmare Resources (LON:KMR) Shares Pass Above 200 Day Moving Average – Should You Sell?

Shares of Kenmare Resources plc (LON:KMR) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 338.18 ($4.36) and traded as high as GBX 402 ($5.19). Kenmare Resources shares last traded at GBX 399 ($5.15), with a volume of 106,286 shares traded.

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank reiterated a “buy” rating and issued a GBX 580 ($7.48) price target on shares of Kenmare Resources in a report on Wednesday, March 26th.

Kenmare Resources Trading Down 6.5 %

The firm has a market cap of £412.35 million, a price-to-earnings ratio of 5.26, a P/E/G ratio of 0.03 and a beta of 0.58. The firm’s 50-day moving average is GBX 347.26 and its 200-day moving average is GBX 338.45. 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 Increases Dividend

The firm also recently announced a dividend, which will be paid on Friday, May 30th. Stockholders of record on Thursday, May 8th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Thursday, May 8th. This is an increase from Kenmare Resources’s previous dividend of $0.15. This represents a dividend yield of 3.1%. Kenmare Resources’s payout ratio is presently 59.17%.

About Kenmare Resources

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.