Kumba Iron Ore (OTCMKTS:KIROY) Sees Large Volume Increase – Still a Buy?

Kumba Iron Ore Ltd. (OTCMKTS:KIROY) saw strong trading volume on Friday . 50,516 shares traded hands during mid-day trading, an increase of 368% from the previous session’s volume of 10,803 shares.The stock last traded at $6.06 and had previously closed at $6.19.

Analyst Upgrades and Downgrades

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

Kumba Iron Ore Trading Down 0.6%

The business has a fifty day simple moving average of $6.07 and a 200 day simple moving average of $5.78.

Kumba Iron Ore Cuts Dividend

The business also recently announced a dividend, which was paid on Thursday, September 4th. Shareholders of record on Monday, August 25th were issued a dividend of $0.2254 per share. This represents a yield of 859.0%. The ex-dividend date was 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.