Credit Suisse Group AG’s target price indicates a potential upside of 38.89% from the stock’s previous close.
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Kaz Minerals is beginning to tick all the right boxes as two new low-priced copper mines in Kazakhstan made a “material impact” to first-half numbers encouraging investors to pile into the shares, lifting the stock price 10%.
CS said it remains cautious on copper prices over the next 12 months but pointed out that a third of KAZ revenues are from gold/silver/zinc, cash costs are low and copper production is set to double in the next two years.
On 8/18/2016, Halyk Finance released a statement for Kaz Minerals PLC (LON:KAZ) bumped the target price at 0.00GBX. Finally, Peel Hunt lifted their price target on KAZ Minerals PLC from GBX 140 ($1.80) to GBX 160 ($2.06) and gave the company a “hold” rating in a research note on Monday, August 8th. The 52 week high Kaz Minerals PLC’s shares have reached is 197.86 whilst the 52 week low for the company’s shares is 65.1. There are now 442,367,278 shares in issue with the average daily volume traded being 1,330,913.
Kaz Minerals focuses on large scale open pit mining in Kazakhstan. The company has recorded a 50-day moving average of 144.84GBX and 200-day average of 151.24GBX. Market capitalisation for LON:KAZ is £811,301,561 GBP.
“Cost performance at the projects and existing mines was better than expected in H116 and we have reduced our unit cost estimates over the forecast period (we previously had a buffer above company guidance)”.
Credit Suisse has upgraded its investment rating on KAZ Minerals [LON:KAZ] to “outperform” from “neutral”, stating that development risks faced by the copper miner are receding. The Bozymchak segment consists Bozymchak gold-copper mine and concentrator located in Kyrgyzstan and the associated global sales and marketing activities managed out of the United Kingdom.
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It is involved in two major growth projects in Bozshakol and Aktogay.
