Kenmare Resources plc 48.7% potential upside indicated by Berenberg Bank

Kenmare Resources plc with ticker (LON:KMR) now has a potential upside of 48.7% according to Berenberg Bank.



Berenberg Bank set a target price of 570 GBX for the company, which when compared to the Kenmare Resources plc share price of 383 GBX at opening today (02/11/2023) indicates a potential upside of 48.7%. Trading has ranged between 378 (52 week low) and 500 (52 week high) with an average of 81,077 shares exchanging hands daily. The market capitalisation at the time of writing is £360,508,729.

Kenmare Resources plc is an Ireland-based mining company. The Company operates the Moma Titanium Minerals Mine, located on the northeast coast of Mozambique. The Moma Mine contains deposits of heavy minerals, which include the titanium minerals ilmenite and rutile, as well as the zirconium silicate mineral, zircon. The Company is a producer of mineral sands products. The Company’s products are raw materials consumed in items, such as paints, plastics and ceramic tiles. The Company produces titanium feedstocks, supplying approximately 25 customers operating in more than 15 countries. It has three mining ponds where dredges mine titanium-rich sands. 3-5% of the ore contains heavy minerals, which are removed and separated at its plant into four final products: ilmenite, zircon, rutile and mineral sands concentrate. These products are then loaded onto ocean-going vessels at its dedicated port facility.