Kumba Iron Ore (OTCMKTS:KIROY) Shares Gap Up – Should You Buy?

Kumba Iron Ore Ltd. (OTCMKTS:KIROY) gapped up prior to trading on Wednesday . The stock had previously closed at $6.53, but opened at $6.98. Kumba Iron Ore shares last traded at $6.6150, with a volume of 311 shares trading hands.

Wall Street Analyst Weigh In

Separately, HSBC cut Kumba Iron Ore to a “hold” rating in a report on Monday, July 28th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has a consensus rating of “Hold”.

Kumba Iron Ore Price Performance

The firm has a fifty day moving average of $6.34 and a 200-day moving average of $5.94.

Kumba Iron Ore Cuts Dividend

The business also recently announced a dividend, which was paid on Thursday, September 4th. Stockholders of record on Monday, August 25th were paid a $0.2254 dividend. The ex-dividend date was Friday, August 22nd. This represents a dividend yield of 859.0%.

Kumba Iron Ore Company Profile

Kumba Iron Ore Limited, together with its subsidiaries, engages in the exploration, extraction, beneficiation, marketing, sale, and shipping of iron ore for the steel industry primarily in South Africa, China, rest of Asia, Europe, the Middle East, and North Africa. It produces iron ore at Sishen and Kolomela mines in the Northern Cape Province.