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

Kumba Iron Ore logo with Basic Materials background

Key Points

  • Kumba Iron Ore experienced a significant increase in trading volume, with 45,673 shares traded, which is a 379% rise compared to the previous session's volume.
  • HSBC downgraded Kumba Iron Ore's rating to a "hold," maintaining an overall average rating of "hold" from analysts.
  • The company recently announced a high dividend yield of 859.0%, with a dividend of $0.2254 per share paid to shareholders of record.
  • Five stocks to consider instead of Kumba Iron Ore.

Kumba Iron Ore Ltd. (OTCMKTS:KIROY - Get Free Report) shares saw strong trading volume on Tuesday . 45,673 shares were traded during trading, an increase of 379% from the previous session's volume of 9,536 shares.The stock last traded at $6.28 and had previously closed at $6.28.

Analyst Ratings Changes

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

Check Out Our Latest Stock Report on Kumba Iron Ore

Kumba Iron Ore Trading Down 0.2%

The stock's fifty day moving average is $5.97 and its two-hundred day moving average is $5.79.

Kumba Iron Ore Cuts Dividend

The firm also recently announced a dividend, which was paid on Thursday, September 4th. Shareholders of record on Monday, August 25th were given a dividend of $0.2254 per share. This represents a dividend yield of 859.0%. The ex-dividend date was Friday, August 22nd.

About Kumba Iron Ore

(Get Free Report)

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.

Further Reading

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