Zacks Investment Research upgraded shares of Kumba Iron Ore Ltd (NASDAQ:KIROY) from a hold rating to a buy rating in a research note released on Thursday morning. They currently have $3.25 price objective on the stock.

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) opened at 2.75 on Thursday. The company has a market cap of $2.64 billion and a price-to-earnings ratio of 40.88. Kumba Iron Ore has a 52 week low of $0.50 and a 52 week high of $3.67. The company has a 50 day moving average of $3.26 and a 200-day moving average of $2.48.

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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