Kenmare Resources (LON:KMR) Trading Down 21.3% - Here's Why

Kenmare Resources plc (LON:KMR - Get Free Report)'s share price fell 21.3% during mid-day trading on Thursday . The stock traded as low as GBX 265.50 ($3.56) and last traded at GBX 310.06 ($4.16). 1,100,585 shares traded hands during trading, an increase of 658% from the average session volume of 145,215 shares. The stock had previously closed at GBX 394 ($5.29).

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank restated a "buy" rating and issued a GBX 580 ($7.78) target price on shares of Kenmare Resources in a research note on Wednesday, March 26th.

Kenmare Resources Stock Performance

The company has a market cap of £361.40 million, a price-to-earnings ratio of 4.61, a price-to-earnings-growth ratio of 0.03 and a beta of 0.58. The stock has a 50-day moving average price of GBX 395.34 and a 200 day moving average price of GBX 358.25. The company has a debt-to-equity ratio of 0.12, a current ratio of 5.63 and a quick ratio of 1.22.

Kenmare Resources Increases Dividend

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

Kenmare Resources Company Profile

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.

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