Kenmare Resources (LSE:KMR) reported a difficult third quarter of 2025, as the upgrade of its Wet Concentrator Plant A temporarily reduced ilmenite production. While output was affected, the company reaffirmed its commitment to meeting full-year production and cost guidance, though ilmenite volumes are now expected to come in at the lower end of forecasts.
Market conditions remain challenging, with one customer unable to take delivery of contracted volumes. However, strong demand for zircon has provided some support. Kenmare is also working to extend its Implementation Agreement with the government and has stepped up security measures at its Moma mine following a recent theft incident.
Financial indicators present a mixed picture. The company’s solid equity base contrasts with falling revenues, lower profitability, and cash flow pressures. Technical signals point to a bearish trend, and a negative P/E ratio raises investor caution. Nevertheless, its attractive dividend yield may continue to appeal to income-focused shareholders.
About Kenmare Resources:
Kenmare Resources plc is a major global supplier of titanium minerals and zircon, operating the Moma Titanium Minerals Mine in northern Mozambique. The company’s core products include ilmenite, zircon, and rutile, which are key raw materials for a range of industrial applications.
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