Kumba Iron Ore (OTCMKTS:KIROY) Downgraded to “Reduce” at HSBC

Kumba Iron Ore (OTCMKTS:KIROY – Get Rating) was downgraded by equities researchers at HSBC from a “hold” rating to a “reduce” rating in a report released on Wednesday, The Fly reports.

Separately, Investec downgraded Kumba Iron Ore from a “buy” rating to a “sell” rating in a research report on Friday, January 13th.

Kumba Iron Ore Stock Performance

OTCMKTS:KIROY traded up $0.10 during trading hours on Wednesday, reaching $10.10. The stock had a trading volume of 4,396 shares, compared to its average volume of 5,708. The stock has a 50 day simple moving average of $9.70 and a 200 day simple moving average of $8.62. Kumba Iron Ore has a 12-month low of $6.30 and a 12-month high of $15.75.

Kumba Iron Ore Company Profile

(Get Rating)

Kumba Iron Ore Limited, together with its subsidiaries, engages in the exploration, extraction, beneficiation, marketing, sale, and shipping of iron ore primarily in South Africa. It produces iron ore at Sishen and Kolomela mines in the Northern Cape Province. The company also operates a port in Saldanha Bay in the Western Cape Province.