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Kenmare Resources ( (GB:KMR) ) has provided an announcement.
Kenmare Resources has initiated an upgrade of its Wet Concentrator Plant A (WCP A) at the Moma Titanium Minerals Mine in Mozambique. This upgrade involves connecting new dredges and a feed preparation unit to facilitate mining in the Nataka ore zone, which holds 70% of Moma’s mineral resources. The project, with a capital cost of $341 million, aims to secure long-term production and improve mining rates by managing higher slime levels in the ore. Production has paused for three to four weeks to complete the upgrade, but the company remains on track to meet its 2025 production and cost guidance.
The most recent analyst rating on (GB:KMR) stock is a Hold with a £370.00 price target. To see the full list of analyst forecasts on Kenmare Resources stock, see the GB:KMR Stock Forecast page.
Spark’s Take on GB:KMR Stock
According to Spark, TipRanks’ AI Analyst, GB:KMR is a Outperform.
Kenmare Resources’ overall stock score is driven by its strong valuation, with a low P/E ratio and high dividend yield, making it attractive for value and income investors. However, the company’s financial performance is mixed, with declining revenues and profitability margins, and technical indicators suggest a bearish trend. Addressing cost efficiencies and improving revenue generation are crucial for enhancing financial health.
To see Spark’s full report on GB:KMR stock, click here.
More about Kenmare Resources
Kenmare Resources plc is one of the world’s largest producers of titanium minerals, operating the Moma Titanium Minerals Mine in Mozambique. The company supplies raw materials used in everyday items like paints, plastics, and ceramic tiles to customers in over 15 countries, accounting for approximately 6% of global titanium feedstocks.
Average Trading Volume: 120,853
Technical Sentiment Signal: Sell
Current Market Cap: £279M
Learn more about KMR stock on TipRanks’ Stock Analysis page.