Kumba Iron Ore (OTCMKTS:KIROY) Share Price Crosses Below Fifty Day Moving Average - What's Next?

Key Points

• Kumba Iron Ore's stock price has fallen below its 50-day moving average, currently trading at $5.62 compared to a 50-day average of $5.72.
• HSBC has downgraded Kumba Iron Ore to a "hold" rating, contributing to its current consensus rating of "Hold" among analysts.
• The company has declared a dividend of $0.2254 per share, which is set to yield an impressive 859% for stockholders of record.

Kumba Iron Ore Ltd. (OTCMKTS:KIROY - Get Free Report)'s share price crossed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $5.72 and traded as low as $5.53. Kumba Iron Ore shares last traded at $5.62, with a volume of 365,107 shares.

Wall Street Analyst Weigh In

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

Kumba Iron Ore Price Performance

The business has a 50-day moving average price of $5.75 and a two-hundred day moving average price of $5.86.

Kumba Iron Ore Cuts Dividend

The business also recently disclosed a dividend, which will be paid on Thursday, September 4th. Investors of record on Monday, August 25th will be paid a dividend of $0.2254 per share. The ex-dividend date of this dividend is Friday, August 22nd. This represents a dividend yield of 859.0%.

About Kumba Iron Ore

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.