Zacks Investment Research Upgrades Kumba Iron Ore Ltd (KIROY) to Buy
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 Friday. The firm presently has a $5.75 price objective on the stock. Zacks Investment Research‘s price target indicates a potential upside of 6.68% from the company’s previous close.
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. “
Kumba Iron Ore (NASDAQ:KIROY) opened at 5.39 on Friday. The firm has a 50-day moving average price of $4.89 and a 200 day moving average price of $4.64. The company has a market cap of $5.17 billion and a P/E ratio of 6.77. Kumba Iron Ore has a 52 week low of $2.68 and a 52 week high of $5.68.
Kumba Iron Ore Company Profile
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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