Kenmare Resources (LON:KMR) Stock Jumps 3.4% – Here’s What Happened

Kenmare Resources plc (LON:KMR) was up 3.4% on Friday. The company traded as high as GBX 258 and last traded at GBX 257. 116,282 shares were traded during mid-day trading, a decline of 75% from the average daily volume of 472,668 shares. The stock had previously closed at GBX 248.50.

Analysts Set New Price Targets

Separately, Berenberg Bank cut their target price on Kenmare Resources from GBX 180 to GBX 160 and set a “hold” rating for the company in a research report on Thursday, October 15th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of GBX 322.50.

Kenmare Resources Stock Performance

The stock has a market cap of £227.83 million, a P/E ratio of -0.87, a PEG ratio of 0.03 and a beta of 0.67. The company has a debt-to-equity ratio of 26.20, a current ratio of 3.07 and a quick ratio of 1.22. The firm’s 50-day moving average price is GBX 212.39 and its 200-day moving average price is GBX 217.05.

About Kenmare Resources

Kenmare Resources plc is one of the world’s largest producers of titanium minerals. Listed on the London Stock Exchange and the Euronext Dublin, Kenmare operates the Moma Titanium Minerals Mine in Mozambique. Moma’s production accounts for approximately 6% of global titanium feedstocks and the Company supplies to customers operating in more than 15 countries. Kenmare produces raw materials that are ultimately consumed in everyday quality-of life items such as paints, plastics, and ceramic tiles.