Kaz Minerals Downgraded to Underweight By Barclays

Kaz Minerals Downgraded to Underweight By BarclaysIn an analyst rating update on Wednesday shares of Kaz Minerals (LON:KAZ) had their rating downgraded by analysts at Barclays.

The broker said it has now set a ‘Underweight’ rating on shares of Kaz Minerals with a price target of 210. The price target according to the broker shows a possible increase of 1.06% from the current stock price of 207.8.

The companies 50 day moving average is 177.94 and its 200 day moving average is 160.49. The 52 week high Kaz Minerals’s shares have peaked at is 213.7 whilst the 52 week low for the company’s shares is 65.1.

Kaz Minerals has 446,517,000 shares which are currently outstanding with a price of 207.8 calculating Kaz Minerals’s market capitalisation to 927.86M GBp .

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. The Mining Projects segment consists of the development of the Company’s projects, including Aktogay, Bozshakol and Koksay. The Bozymchak segment consists Bozymchak gold-copper mine and concentrator located in Kyrgyzstan and the associated international sales and marketing activities managed out of the United Kingdom.

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