Kazakhmys Lowered to Sell at Numis Securities Ltd (KAZ)
Kazakhmys (LON:KAZ) was downgraded by investment analysts at Numis Securities Ltd to a “sell” rating in a note issued to investors on Monday, Analyst RN reports. They currently have a GBX 130 ($2.14) price objective on the stock, down from their previous price objective of GBX 260 ($4.28). Numis Securities Ltd’s price objective suggests a potential downside of 33.94% from the company’s current price.
Kazakhmys (LON:KAZ) opened at 196.30 on Monday. Kazakhmys has a 1-year low of GBX 187.90 and a 1-year high of GBX 829.00. The stock has a 50-day moving average of GBX 211.3 and a 200-day moving average of GBX 256.9. The company’s market cap is £1.027 billion.
A number of other firms have also recently commented on KAZ. Analysts at Barclays reiterated an “underweight” rating on shares of Kazakhmys in a research note to investors on Friday. They now have a GBX 192 ($3.16) price target on the stock. Separately, analysts at Canaccord Genuity cut their price target on shares of Kazakhmys from GBX 275 ($4.53) to GBX 220 ($3.63) in a research note to investors on Thursday. They now have a “hold” rating on the stock. Finally, analysts at Credit Suisse reiterated an “underperform” rating on shares of Kazakhmys in a research note to investors on Wednesday, January 8th. They now have a GBX 200 ($3.30) price target on the stock. Eleven research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the stock. Kazakhmys presently has a consensus rating of “Hold” and an average target price of GBX 276.56 ($4.56).
Kazakhmys PLC, along with its subsidiaries, is natural resource company focused on the production of copper.
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