Kenmare Resources (GB:KMR)
LSE:KMR
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Kenmare Resources
(LSE:KMR)
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Rating:52Neutral
Price Target:
240.00 p
▲(6.90% Upside)
Action:Reiterated
Date:04/09/26
The score is held back primarily by the 2025 earnings collapse (large net loss), negative free cash flow, and increased leverage, alongside weak technical momentum (below key moving averages with negative MACD). The main offset is the very high dividend yield, though the negative P/E reflects the recent loss.
Positive Factors
End-market demand durability
Kenmare supplies ilmenite, zircon and related mineral sands used in pigment and ceramics markets that underpin long-term industrial demand. Those end-markets are structural and global, supporting steady baseline demand for feedstock and exportable product volumes over years.
Negative Factors
Revenue and earnings deterioration
A multi-year revenue decline and a severe 2025 net loss reflect structural pressure on sales, margins or one-off items that materially weaken retained earnings. Prolonged revenue erosion undermines reinvestment, reduces operational resilience and raises restructuring risk.
Read all positive and negative factors
Positive Factors
Negative Factors
End-market demand durability
Kenmare supplies ilmenite, zircon and related mineral sands used in pigment and ceramics markets that underpin long-term industrial demand. Those end-markets are structural and global, supporting steady baseline demand for feedstock and exportable product volumes over years.
Read all positive factors
Kenmare Resources (KMR) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£195.88M
Dividend Yield7.3%
Average Volume (3M)146.74K
Price to Earnings (P/E)―
Beta (1Y)0.84
Revenue Growth-22.99%
EPS Growth-583.84%
CountryUK
Employees1,761
SectorBasic Materials
Sector Strength58
IndustryIndustrial Materials
Share Statistics
EPS (TTM)-3.66
Shares Outstanding89,228,165
10 Day Avg. Volume99,996
30 Day Avg. Volume146,738
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)0.36
Price to Sales (P/S)0.88
P/FCF Ratio-2.82
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
£220.00Price Target Upside-2.00% Downside
Rating ConsensusHold
Number of Analyst Covering1
EPS Forecast (FY)-0.26
Revenue Forecast (FY)£331.00M
Kenmare Resources Business Overview & Revenue Model
Company Description
Kenmare Resources plc, together with its subsidiaries, produces and sells mineral sand products in China, Europe, the United States, and internationally. It operates the Moma Titanium Minerals Mine located on the northeast coast of Mozambique. The...
How the Company Makes Money
Kenmare makes money primarily by mining and processing mineral sands ore and selling the resulting mineral products to customers under commercial sales contracts. Its key revenue streams are (1) sales of ilmenite (a titanium-bearing mineral that i...
Kenmare Resources Financial Statement Overview
Summary
Income Statement
38
Negative
Balance Sheet
72
Positive
Cash Flow
55
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 335.47M | 414.75M | 458.48M | 525.99M | 455.94M |
| Gross Profit | 18.05M | 95.38M | 163.55M | 243.29M | 160.93M |
| EBITDA | 59.31M | 154.75M | 223.75M | 296.42M | 210.89M |
| Net Income | -331.87M | 64.89M | 130.98M | 206.03M | 128.53M |
Balance Sheet | |||||
| Total Assets | 1.11B | 1.31B | 1.26B | 1.25B | 1.16B |
| Cash, Cash Equivalents and Short-Term Investments | 48.64M | 56.68M | 71.05M | 108.27M | 69.06M |
| Total Debt | 205.70M | 79.25M | 49.39M | 80.36M | 150.28M |
| Total Liabilities | 293.69M | 148.24M | 117.88M | 145.29M | 230.07M |
| Stockholders Equity | 815.07M | 1.16B | 1.14B | 1.10B | 930.64M |
Cash Flow | |||||
| Free Cash Flow | -105.23M | 7.24M | 86.66M | 149.55M | 87.46M |
| Operating Cash Flow | 104.10M | 159.83M | 153.19M | 209.42M | 147.81M |
| Investing Cash Flow | -209.33M | -152.59M | -66.54M | -59.87M | -60.34M |
| Financing Cash Flow | 97.00M | -21.60M | -123.88M | -109.73M | -100.97M |
Kenmare Resources Technical Analysis
Negative
224.50
Price Trends
221.76
Negative
239.97
Negative
263.05
Negative
Market Momentum
0.09
Positive
38.60
Neutral
12.35
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:KMR, the sentiment is Negative. The current price of 224.5 is below the 20-day moving average (MA) of 230.97, above the 50-day MA of 221.76, and below the 200-day MA of 263.05, indicating a bearish trend. The MACD of 0.09 indicates Positive momentum. The RSI at 38.60 is Neutral, neither overbought nor oversold. The STOCH value of 12.35 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for GB:KMR.
Kenmare Resources Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
58 Neutral | £191.72M | -6.48 | -78.51% | ― | ― | -37.29% | |
53 Neutral | £484.10M | -0.10 | 233.54% | ― | ― | -232.99% | |
52 Neutral | £195.88M | -0.32 | -34.92% | 7.30% | -22.99% | -583.84% | |
49 Neutral | £69.36M | -28.64 | -6.85% | ― | ― | ― | |
48 Neutral | £349.63M | ― | -20.38% | ― | ― | -88.27% | |
47 Neutral | £91.86M | -2.48 | -17.08% | ― | ― | ― |
* Basic Materials Sector Average
GB:KMR
Kenmare Resources
217.00
-146.84
-40.36%
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Kenmare Resources Corporate Events
Business Operations and StrategyStock BuybackShareholder Meetings
Kenmare Shareholders Back All Resolutions at Annual General Meeting
Positive
May 7, 2026
Kenmare Resources reported that all resolutions at its Annual General Meeting in Dublin were passed on a poll, reflecting broad shareholder support across governance, remuneration and capital authorities. Directors were re-elected or newly elected...
Business Operations and StrategyRegulatory Filings and Compliance
Kenmare details 2025 government payments from Moma mine operations
Neutral
May 7, 2026
Kenmare Resources has published its 2025 Report on Payments to Governments, detailing cash-based taxes, royalties, fees and infrastructure-related payments linked to its Moma mine operations in Mozambique. The disclosure, required under Irish and ...
Business Operations and StrategyRegulatory Filings and Compliance
Kenmare details 2025 government payments from Mozambique titanium operations
Neutral
May 7, 2026
Kenmare Resources has published its 2025 Report on Payments to Governments, detailing taxes, royalties, fees and infrastructure-related payments made primarily to the Government of Mozambique. The disclosure, prepared under Irish and UK transparen...
Business Operations and StrategyFinancial DisclosuresRegulatory Filings and Compliance
Kenmare trims stocks as production dips but WCP A upgrade nears full capacity
Neutral
Apr 22, 2026
Kenmare reported weaker production in the first quarter of 2026 as heavy mineral concentrate and ilmenite output fell 30% and 38% year-on-year, largely due to debottlenecking work at its main Wet Concentrator Plant A and lower ore grades at the en...
Financial DisclosuresRegulatory Filings and Compliance
Kenmare files 2025 annual report under Ireland’s transparency rules
Positive
Apr 17, 2026
Kenmare Resources has published its 2025 Annual Report for the year ended 31 December 2025, complying with the Central Bank of Ireland’s updated transparency guidance. The report, including an ESEF-format version, is now accessible on the co...
Financial DisclosuresRegulatory Filings and ComplianceShareholder Meetings
Kenmare Resources Publishes 2025 Annual Report and Calls 2026 AGM
Neutral
Apr 13, 2026
Kenmare Resources has published its 2025 Annual Report and issued formal notice of its 2026 Annual General Meeting, to be held on 7 May in Dublin. The AGM notice and proxy form are available on the company’s website, with hard copies being m...
Business Operations and StrategyDividendsFinancial DisclosuresRegulatory Filings and Compliance
Kenmare publishes 2025 report as sustainability gains offset tougher trading
Negative
Apr 10, 2026
Kenmare Resources has published its 2025 Annual Report, highlighting compliance with Ireland’s implementation of the EU’s Corporate Sustainability Reporting Directive and reaffirming its long-term commitment to best-in-class sustainabi...
Business Operations and StrategyDividendsFinancial Disclosures
Kenmare swings to loss as weak markets, heavy capex force dividend halt and job cuts
Negative
Mar 25, 2026
Kenmare Resources reported a sharp deterioration in 2025 earnings as weak titanium feedstock markets, lower shipments and prices, and a major impairment charge pushed the group to an adjusted loss after tax of $23.7 million. Mineral product revenu...
Business Operations and StrategyLegal Proceedings
Kenmare clashes with Mozambican tax authority over Moma mine terms
Negative
Mar 9, 2026
Kenmare Resources has warned that Mozambique’s Tax Authority is unilaterally seeking to impose new terms on its processing and export operations at the Moma mine, despite ongoing negotiations to renew its Implementation Agreement. The compan...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.