Zacks Investment Research upgraded shares of Kumba Iron Ore Ltd (NASDAQ:KIROY) from a hold rating to a buy rating in a research report report published on Wednesday. The firm currently has $6.00 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) remained flat at $5.42 on Wednesday. The company’s stock had a trading volume of 2,900 shares. The stock has a 50 day moving average of $5.15 and a 200-day moving average of $4.62. Kumba Iron Ore has a one year low of $2.68 and a one year high of $5.68. The company has a market cap of $5.20 billion and a P/E ratio of 6.62.

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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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