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Prices & Quotes - UK Markets - Kaz Minerals (KAZ)

Risk Warning The value of investments can fall as well as rise and any income from them is not guaranteed and you may get back less than you invested. Past performance is not a guide to future performance.

Share Price:
Up 640.00p
Change Today:
0.20p
Market Cap:
3,023.83m
Sector:
Mining

Kaz Minerals' interim profits slide on weakened copper prices

By Iain Gilbert

Date: Tuesday 18 Aug 2020

LONDON (ShareCast) - (Sharecast News) - Kazakhstan-focused miner Kaz Minerals revealed a drop in interim profits on Tuesday, principally due to lower copper prices throughout the period.
Kaz posted a pre-tax profit of $249.0m for the six months ended 30 June, down 13.84% year-on-year, as revenues slipped 5.8% to $991.0m.

Underlying earnings narrowed 9.84% to $559.0m and operating profits shrunk 12.93% to $357.0m.

Net cash flow from operations grew 31% to $310.0m.

Despite the weakened performance across the board, Kaz Minerals declared an interim dividend of $0.04 per share, in line with the interim payment made by the group at the same time a year earlier.

Looking forward, Kaz said risks linked to the Covid-19 pandemic still remained but highlighted that full-year production guidance was unchanged.

The FTSE 250-listed firm added that while lower average LME copper prices had hurt its interim numbers, Kaz stated it was confident that the medium- to long-term outlook for the price of copper was positive.

Chief executive Andrew Southam said: "Thanks to the dedication and hard work of our employees we have increased copper and gold production and maintained our low-cost position, recording a net cash cost of $0.68 per pound.

"Covid-19 risks remain, but the group is on track to achieve its full-year production guidance after an excellent performance in the first half."

As of 0840 BST, Kaz shares were down 1.43% at 571.53p.

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

Kaz Minerals Market Data

Currency UK Pounds
Price 640.00p
Change Today 0.20p
52 Week High 650.00p
52 Week Low 269.10p
Volume 133,355
Shares Issued 472.47m
Market Cap 3,023.83m

Performance Indicators

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What The Brokers Say

Strong Buy 5
Buy 0
Neutral 11
Sell 0
Strong Sell 0
Total 16
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Kaz Minerals Dividends

  Latest Previous
  Interim Final
Ex-Div 01-Oct-20 23-Apr-20
Paid 23-Oct-20 22-May-20
Amount 4.00¢ 8.00¢

Trades for 30-Nov-2020

Time Volume / Share Price
08:27 1,921 @ 640.00p
08:27 2,400 @ 640.00p
08:27 909 @ 640.00p
08:27 1,233 @ 640.00p
08:26 2,174 @ 640.00p

Kaz Minerals Key Personnel

Chair Oleg Novachuk
CEO Andrew Southam