Zacks Investment Research downgraded shares of Kumba Iron Ore Ltd (NASDAQ:KIROY) from a buy rating to a hold rating in a research report released on Tuesday morning.

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 2.69 on Tuesday. The company has a market capitalization of $2.58 billion and a price-to-earnings ratio of 41.01. The stock’s 50 day moving average price is $3.24 and its 200 day moving average price is $2.49. Kumba Iron Ore has a 1-year low of $0.50 and a 1-year high of $3.67.

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.

5 Day Chart for NASDAQ:KIROY

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