Added to YB: 2026-03-31
Pitch date: 2026-03-27
KMR.L [neutral]
Kenmare Resources plc
+0.52%
current return
Author Info
No bio for this author
Company Info
Kenmare Resources plc, together with its subsidiaries, engages in the production and sale of mineral sand products in China, rest of Asia, Europe, the United States, and internationally.
Market Cap
GBP 231.2M
Pitch Price
GBP 1.93
Price Target
N/A
Dividend
N/A
EV/EBITDA
6.68
P/E
-0.71
EV/Sales
1.18
Sector
Metals and Mining
Category
value
Theodosian Capital | Stocks Update 27/3/2026 - KMR – FY results – headwinds
KMR.L (earnings): FY25 rev $329M (-21% YoY) on weak pricing ($338/t vs $360 2024) & 13% lower shipments. Breakeven op profit vs $89M 2024. $300M impairment pushed stat loss to $325M. Net debt $159M (mostly WCP-A capex). Dividend suspended. 2026 guide: 1.1Mt shipments, lower opex $215-225M. Key risk: Mozambique Implementation Agreement renewal still unresolved. Trades 4.0x 2027 EV/EBITDA on headwinds, but 6% global Ti supply, 100yr mine life, NAV $815M vs $233M mcap = potential re-rating if IA resolves & pricing recovers.
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