KAZ Minerals PLC (KAZ) Earns Outperform Rating from Macquarie
KAZ Minerals PLC (LON:KAZ)‘s stock had its “outperform” rating reissued by equities researchers at Macquarie in a research note issued on Monday. They presently have a GBX 250 ($3.05) price objective on the copper miner’s stock. Macquarie’s target price would suggest a potential downside of 4.58% from the stock’s previous close.
Several other brokerages also recently issued reports on KAZ. JPMorgan Chase & Co. reiterated an “underweight” rating and set a GBX 150 ($1.83) price objective on shares of KAZ Minerals PLC in a research report on Friday, July 29th. Deutsche Bank AG upped their target price on KAZ Minerals PLC from GBX 183 ($2.23) to GBX 189 ($2.30) and gave the stock a “hold” rating in a research report on Friday, August 19th. Credit Suisse Group AG upgraded KAZ Minerals PLC to an “outperform” rating and upped their target price for the stock from GBX 165 ($2.01) to GBX 250 ($3.05) in a research report on Friday, August 19th. Canaccord Genuity upgraded KAZ Minerals PLC to a “hold” rating and upped their target price for the stock from GBX 120 ($1.46) to GBX 130 ($1.58) in a research report on Monday, July 11th. Finally, Peel Hunt upped their target price on KAZ Minerals PLC from GBX 140 ($1.71) to GBX 160 ($1.95) and gave the stock a “hold” rating in a research report on Monday, August 8th. Five equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company’s stock. KAZ Minerals PLC has a consensus rating of “Hold” and a consensus target price of GBX 165.25 ($2.01).
KAZ Minerals PLC (LON:KAZ) traded up 1.47% during trading on Monday, reaching GBX 262.00. The company’s stock had a trading volume of 1,414,625 shares. The firm has a 50-day moving average price of GBX 212.13 and a 200-day moving average price of GBX 168.38. KAZ Minerals PLC has a 52 week low of GBX 75.00 and a 52 week high of GBX 270.30. The firm’s market capitalization is GBX 1.17 billion.
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In other news, insider Heale,Simon purchased 28,000 shares of the firm’s stock in a transaction on Thursday, September 1st. The stock was bought at an average cost of GBX 176 ($2.15) per share, for a total transaction of £49,280 ($60,060.94).
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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