Canaccord Genuity Reiterates “Buy” Rating for Kenmare Resources (KMR)

Kenmare Resources (LON:KMR)‘s stock had its “buy” rating restated by investment analysts at Canaccord Genuity in a research note issued to investors on Wednesday. They currently have a GBX 500 ($6.91) price target on the stock. Canaccord Genuity’s target price would suggest a potential upside of 105.23% from the stock’s previous close.

Shares of Kenmare Resources (KMR) traded down GBX 6.37 ($0.09) on Wednesday, hitting GBX 243.63 ($3.37). 65,918 shares of the company traded hands, compared to its average volume of 45,917. The stock has a market capitalization of $267.48 and a P/E ratio of 812.10. Kenmare Resources has a fifty-two week low of GBX 236.75 ($3.27) and a fifty-two week high of GBX 351.75 ($4.86).

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Kenmare Resources Company Profile

Kenmare Resources plc (Kenmare) is a mining company. The Company and its subsidiaries are engaged in the operation and further development of the Moma Titanium Minerals Mine, which is located in northern coast of Mozambique. The Moma Mine contains deposits of heavy minerals, such as the titanium minerals, including ilmenite and rutile, as well as zirconium silicate mineral, zircon.

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