Kumba Iron Ore Ltd (KIROY) Upgraded to Buy by Zacks Investment Research
Kumba Iron Ore Ltd (NASDAQ:KIROY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Thursday. The firm presently has a $6.25 target price on the stock. Zacks Investment Research‘s price objective would indicate a potential upside of 16.17% from the company’s current price.
According to Zacks, “Kumba Iron Ore Limited engages in the exploration, extraction, beneficiation, marketing, shipping, and sale of iron ore in South Africa. Its mining assets and natural resources also include platinum group metals and diamonds, copper, iron ore, metallurgical coal, nickel and thermal coal. The company has mines in various places like Thabazimbi in Limpopo, Sishen in Northern Cape; and Kolomela mine. It also transports iron ore to its customers in Europe and Asia. Kumba Iron Ore Limited is headquartered in Centurion, South Africa. “
Shares of Kumba Iron Ore (NASDAQ KIROY) traded down 2.89% during trading on Thursday, hitting $5.38. 5,602 shares of the company’s stock were exchanged. The firm has a market capitalization of $5.20 billion and a PE ratio of 6.75. Kumba Iron Ore has a 1-year low of $2.68 and a 1-year high of $5.68. The stock’s 50 day moving average is $5.03 and its 200 day moving average is $4.64.
About Kumba Iron Ore
Kumba Iron Ore Limited (Kumba) is a supplier of iron ore to the global steel industry. The Company is engaged in the exploration, beneficiation, marketing, sale and shipping of iron ore. The Company’s segments include Sishen mine, Kolomela mine, Thabazimbi mine, Logistics, Shipping operations and Other.
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