Earnings forecasts for mining company Kenmare Resources have been “materially” updated by analysts at stockbrokers Davy.
Kenmare produces ilmenite, the primary ore of titanium, which is used in the manufacture of a number of consumer goods including paints, fabrics, paper and cosmetics.
The stockbrokers have upgraded their earnings before interest, taxation, depreciation and amortisation (ebitda) forecasts for the Mozambique-focused group by 10pc in respect of last year, and by 43pc for 2022.
Kenmare Resources plc (LON:KMR) is an established mining company, which operates the Moma Titanium Minerals Mine, located on the north east coast of Mozambique.