Kumba Iron Ore (OTCMKTS:KIROY) Shares Gap Down – Here’s What Happened

Kumba Iron Ore Ltd. (OTCMKTS:KIROY) shares gapped down prior to trading on Thursday . The stock had previously closed at $4.8950, but opened at $4.58. Kumba Iron Ore shares last traded at $4.6150, with a volume of 35,698 shares traded.

Analyst Ratings Changes

Separately, Zacks Research upgraded Kumba Iron Ore to a “hold” rating in a research report on Thursday, May 28th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company currently has an average rating of “Hold”.

Kumba Iron Ore Trading Down 4.2%

The business’s 50-day moving average is $5.31 and its 200-day moving average is $6.05.

Kumba Iron Ore Company Profile

Kumba Iron Ore Limited is a South African iron ore producer and a subsidiary of Anglo American plc. The company explores for, mines, processes and markets iron ore, which is primarily used as a raw material in steelmaking. Its products include high-grade iron ore lump and fine ore.

Kumba operates the Sishen and Kolomela mines in South Africa’s Northern Cape province. The company processes ore at its mining operations and transports its products by rail to the Port of Saldanha Bay for export to international steelmakers.