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Kumba Iron Ore (OTCMKTS:KIROY) Shares Gap Up - Here's What Happened

Kumba Iron Ore logo with Basic Materials background

Key Points

  • Kumba Iron Ore's stock price gapped up from a previous close of $5.52 to open at $5.85 on Tuesday, with 150 shares traded.
  • HSBC downgraded Kumba Iron Ore to a "hold" rating in a recent research note, signaling a cautious outlook.
  • The company's stock showed an increase of 6.0%, with current moving averages at $5.64 for 50 days and $5.99 for 200 days.
  • Need better tools to track Kumba Iron Ore? Try 5 Weeks of MarketBeat All Access for $5. Start Portfolio Tracking Now.

Kumba Iron Ore Ltd. (OTCMKTS:KIROY - Get Free Report)'s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $5.52, but opened at $5.85. Kumba Iron Ore shares last traded at $5.85, with a volume of 150 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, HSBC cut shares of Kumba Iron Ore to a "hold" rating in a research report on Monday, July 28th.

View Our Latest Stock Report on KIROY

Kumba Iron Ore Price Performance

The business's 50 day moving average price is $5.65 and its 200-day moving average price is $5.99.

Kumba Iron Ore Company Profile

(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.

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