Macquarie Reaffirms Outperform Rating for KAZ Minerals PLC (KAZ)
KAZ Minerals PLC (LON:KAZ)‘s stock had its “outperform” rating reiterated by stock analysts at Macquarie in a note issued to investors on Wednesday. They currently have a GBX 250 ($3.26) target price on the copper miner’s stock. Macquarie’s price target suggests a potential upside of 24.07% from the company’s current price.
A number of other research firms have also recently commented on KAZ. JPMorgan Chase & Co. reiterated an “underweight” rating and set a GBX 150 ($1.96) price target on shares of KAZ Minerals PLC in a report on Friday, July 29th. Deutsche Bank AG increased their price target on shares of KAZ Minerals PLC from GBX 183 ($2.39) to GBX 189 ($2.47) and gave the company a “hold” rating in a report on Friday, August 19th. Credit Suisse Group AG upgraded shares of KAZ Minerals PLC to an “outperform” rating and increased their price target for the company from GBX 165 ($2.15) to GBX 250 ($3.26) in a report on Friday, August 19th. Canaccord Genuity upgraded shares of KAZ Minerals PLC to a “hold” rating and increased their price target for the company from GBX 120 ($1.57) to GBX 130 ($1.70) in a report on Monday, July 11th. Finally, Peel Hunt increased their price target on shares of KAZ Minerals PLC from GBX 140 ($1.83) to GBX 160 ($2.09) and gave the company a “hold” rating in a report on Monday, August 8th. Seven research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of GBX 154.65 ($2.02).
KAZ Minerals PLC (LON:KAZ) opened at 201.50 on Wednesday. KAZ Minerals PLC has a 1-year low of GBX 65.10 and a 1-year high of GBX 203.25. The company has a 50-day moving average of GBX 177.94 and a 200-day moving average of GBX 160.49. The stock’s market capitalization is GBX 899.73 million.
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In related news, insider Heale,Simon bought 28,000 shares of the business’s stock in a transaction that occurred on Thursday, September 1st. The stock was bought at an average cost of GBX 176 ($2.30) per share, with a total value of £49,280 ($64,325.81).
About KAZ Minerals PLC
KAZ Minerals PLC, formerly Kazakhmys PLC, is a United Kingdom-based copper company. The Company is focused on open-pit mining in Kazakhstan. The Company operates through three segments: East Region operations, Mining Projects and Bozymchak. The East Region operations segment consists of the Company’s primary operating entity, Vostoktsvetmet LLC, engaged in the mining and processing of copper and other metals, which are produced as by-products and located in Kazakhstan, and the associated international sales and marketing activities managed out of the United Kingdom.
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