Kumba Iron Ore (OTCMKTS:KIROY) Shares Gap Down - Time to Sell?

Key Points

• Kumba Iron Ore Ltd. shares gapped down from a previous closing price of $6.38 to open at $6.10, currently trading at $6.21 with a low volume of 1,916 shares.
• HSBC has downgraded Kumba Iron Ore to a "hold" rating, aligning with the current consensus rating of "Hold" across analysts.
• The company announced a dividend yield of 859.0%, with a payment of $0.2254 issued to shareholders on September 4th.

Kumba Iron Ore Ltd. (OTCMKTS:KIROY - Get Free Report)'s stock price gapped down prior to trading on Monday . The stock had previously closed at $6.38, but opened at $6.10. Kumba Iron Ore shares last traded at $6.21, with a volume of 1,916 shares traded.

Analysts Set New Price Targets

Separately, HSBC cut shares of 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, Based on data from MarketBeat.com, the company presently has an average rating of "Hold".

Kumba Iron Ore Stock Up 1.0%

The stock's fifty day simple moving average is $5.90 and its 200-day simple moving average is $5.79.

Kumba Iron Ore Cuts Dividend

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

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.