Kumba Iron Ore Ltd (KIROY) Downgraded to “Hold” at Zacks Investment Research

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

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. “

Kumba Iron Ore (NASDAQ:KIROY) remained flat at $5.78 during mid-day trading on Wednesday. The firm’s 50 day moving average price is $5.43 and its 200 day moving average price is $4.67. The firm has a market capitalization of $5.54 billion and a PE ratio of 7.06. Kumba Iron Ore has a 12-month low of $2.90 and a 12-month high of $5.83.

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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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