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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:
588.60p
Change Today:
0.000p
Market Cap:
2,780.77m
Sector:
Mining

BofA stays at 'underperform' on Kaz Minerals

By Alexander Bueso

Date: Wednesday 19 Aug 2020

LONDON (ShareCast) - (Sharecast News) - Analysts at Bank of America reiterated their 'underperform' recommendation and 450.0p target price on shares of Kaz Minerals following the firm's second quarter results.
Driving their decision were concerns around the 'project risk' associated with the outfit's Baimskaya Project and the company's reliance on the Russian state amid the Covid-19 crisis.

Just the day before, the Kazhakstan-focused copper miner had posted an 8% fall in second quarter net income to reach $197m, which was 19% below the analyst consensus.

Adverse foreign exchange movements accounted for roughly half of the 'miss' against analysts' estimates.

Kaz Minerals also upped its projections for 2020 capital expenditures related to Baimskaya, although the Bankable Feasibility study for the project was expected.

"Should the COVID-19 outbreak continue in Kazakhstan, we see further risks to the timely completion of the Baimskaya BFS, which is the prerequisite for sharing project risks with a partner. Without a partner, KAZ may continue carry the burden of the US$7bn project on its own, a risky venture, in our view."

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Kaz Minerals Market Data

Currency UK Pounds
Price 588.60p
Change Today 0.000p
52 Week High 597.80p
52 Week Low 269.10p
Volume 0
Shares Issued 472.44m
Market Cap 2,780.77m

Performance Indicators

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What The Brokers Say

Strong Buy 10
Buy 0
Neutral 10
Sell 1
Strong Sell 0
Total 21
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

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Kaz Minerals Key Personnel

Chair Oleg Novachuk
CEO Andrew Southam