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Kenmare Resources ( (GB:KMR) ) just unveiled an announcement.
Kenmare Resources has successfully connected two new dredges and a new feed preparation unit to its Wet Concentrator Plant A (WCP A) at the Moma Titanium Minerals Mine, initiating the commissioning process. This upgrade is crucial for transitioning to the Nataka ore zone, which holds 70% of Moma’s Mineral Resources, ensuring production for over 20 years. The project, with a capital cost of $341 million, aims to manage higher slimes content and enhance mining rates, with full ramp-up expected by the end of 2025.
The most recent analyst rating on (GB:KMR) stock is a Hold with a £332.00 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 Neutral.
Kenmare Resources’ overall stock score is primarily influenced by its mixed financial performance and technical analysis. The company’s strong equity position is overshadowed by declining revenues and profitability, while technical indicators suggest a bearish trend. The negative P/E ratio raises valuation concerns, though the high dividend yield offers some appeal.
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 for everyday items like paints, plastics, and ceramic tiles, serving customers in over 15 countries and contributing approximately 6% of global titanium feedstocks.
Average Trading Volume: 94,211
Technical Sentiment Signal: Sell
Current Market Cap: £282.1M
See more data about KMR stock on TipRanks’ Stock Analysis page.