Kumba Iron Ore (OTCMKTS:KIROY) Shares Gap Up - Still a Buy?

Key Points

• Kumba Iron Ore shares gapped up, opening at $6.51 after closing at $6.16, but last traded at $6.26 with a volume of 418 shares.
• HSBC has downgraded Kumba Iron Ore to a "hold" rating, contributing to a current consensus rating of "Hold" among analysts.
• The company recently announced a dividend yield of 859.0%, with a payment of $0.2254 made on September 4th.

Kumba Iron Ore Ltd. (OTCMKTS:KIROY - Get Free Report)'s share price gapped up before the market opened on Thursday . The stock had previously closed at $6.16, but opened at $6.51. Kumba Iron Ore shares last traded at $6.26, with a volume of 418 shares traded.

Analysts Set New Price Targets

Separately, HSBC downgraded 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, According to MarketBeat.com, Kumba Iron Ore presently has a consensus rating of "Hold".

Kumba Iron Ore Price Performance

The business's fifty day simple moving average is $6.09 and its 200 day simple moving average is $5.80.

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 paid a $0.2254 dividend. 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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