Kenmare Resources (LON:KMR) Shares Pass Above 200-Day Moving Average - Here's What Happened

Kenmare Resources plc (LON:KMR - Get Free Report)'s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 346.74 ($4.60) and traded as high as GBX 427 ($5.66). Kenmare Resources shares last traded at GBX 413.50 ($5.49), with a volume of 48,225 shares.

Analysts Set New Price Targets

Separately, Berenberg Bank restated a "buy" rating and issued a GBX 580 ($7.69) price target on shares of Kenmare Resources in a report on Wednesday, March 26th.

Kenmare Resources Stock Up 0.9 %

The company has a 50-day moving average of GBX 387.24 and a 200-day moving average of GBX 347.53. The company has a current ratio of 5.63, a quick ratio of 1.22 and a debt-to-equity ratio of 0.12. The company has a market capitalization of £446.06 million, a price-to-earnings ratio of 5.68, a price-to-earnings-growth ratio of 0.03 and a beta of 0.58.

Kenmare Resources Increases Dividend

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