Davy Research

Kenmare

2017 results: meeting expectations
Resource
Kenmare

DAVY VIEW

Best ever production output and shipped volumes underpin how far Kenmare has come since its 2016 re-organisation. Moreover, this took place in a market for titanium feedstocks that continues to be positive without being overheated. Although a period of planned capital allocation has begun, it is underway at a time when substantial cash flows are present and debt levels are low and manageable. Overall, we think the group is in better shape now than for quite some time.

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  • RATINGS AND PRICE CORRECT AT TIME OF ISSUE


  • Kenmare

    Closing Price: 350p

  • RATING 03/08/16

  • PREVIOUS RATING 07/12/15

    Under Review

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