Kenmare Resources (LON:KMR) Trading 38% Higher – Here’s What Happened

Shares of Kenmare Resources plc (LON:KMR) shot up 38% during trading on Thursday . The company traded as high as GBX 435 ($5.62) and last traded at GBX 379.50 ($4.91). 464,112 shares were traded during trading, an increase of 304% from the average session volume of 114,926 shares. The stock had previously closed at GBX 275 ($3.55).

Analysts Set New Price Targets

Separately, Berenberg Bank reaffirmed a “hold” rating and set a GBX 350 ($4.52) target price on shares of Kenmare Resources in a report on Thursday.

Kenmare Resources Trading Up 3.1 %

The firm has a market capitalization of £444.41 million, a PE ratio of 5.66, a PEG ratio of 0.03 and a beta of 0.58. The company has a quick ratio of 1.22, a current ratio of 5.63 and a debt-to-equity ratio of 0.12. The stock’s fifty day simple moving average is GBX 306.09 and its 200 day simple moving average is GBX 327.87.

Kenmare Resources Company Profile

Kenmare Resources plc is an Ireland-based mining company. The Company operates the Moma Titanium Minerals Mine, located on the northeast coast of Mozambique. The Moma Mine contains deposits of heavy minerals, which include the titanium minerals ilmenite and rutile, as well as the zirconium silicate mineral, zircon.