Kumba Iron Ore (OTCMKTS:KIROY) Share Price Crosses Below 50-Day Moving Average - Should You Sell?

Key Points

• Kumba Iron Ore (OTCMKTS:KIROY) shares have fallen below their 50-day moving average of $5.66, indicating potential concerns for investors.
• HSBC has downgraded Kumba Iron Ore's rating to a "hold," which could influence investor sentiment and stock performance.
• The company primarily operates in the iron ore industry, with significant operations in South Africa and markets across Asia and Europe.

Kumba Iron Ore Ltd. (OTCMKTS:KIROY - Get Free Report)'s stock price passed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $5.66 and traded as low as $5.66. Kumba Iron Ore shares last traded at $5.66, with a volume of 1,228 shares changing hands.

Wall Street Analyst Weigh In

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

Kumba Iron Ore Trading Up 0.4%

The stock has a 50-day moving average price of $5.68 and a 200 day moving average price of $5.95.

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.