Kumba Iron Ore (OTCMKTS:KIROY) Sees Unusually-High Trading Volume - Here's What Happened

Key Points

• Kumba Iron Ore saw a 27% increase in trading volume, with approximately 11,206 shares exchanged compared to 8,853 shares the previous session.
• HSBC downgraded Kumba Iron Ore to a "hold" rating, contributing to a general average rating of "Hold" for the stock.
• The company recently declared a dividend of $0.2254 per share, which reflects a substantial dividend yield of 859.0%.

Kumba Iron Ore Ltd. (OTCMKTS:KIROY - Get Free Report) shares saw unusually-high trading volume on Wednesday . Approximately 11,206 shares traded hands during trading, an increase of 27% from the previous session's volume of 8,853 shares.The stock last traded at $6.60 and had previously closed at $6.48.

Wall Street Analyst Weigh In

Separately, HSBC downgraded Kumba Iron Ore to a "hold" rating in a research report on Monday, July 28th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, Kumba Iron Ore has an average rating of "Hold".

Kumba Iron Ore Trading Down 0.4%

The business has a fifty day moving average price of $5.92 and a 200 day moving average price of $5.80.

Kumba Iron Ore Cuts Dividend

The company also recently declared a dividend, which was paid on Thursday, September 4th. Stockholders of record on Monday, August 25th were issued a dividend of $0.2254 per share. This represents a dividend 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.

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