Morgan Stanley Reiterates Overweight Rating for KAZ Minerals (LON:KAZ)

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Morgan Stanley reiterated their overweight rating on shares of KAZ Minerals (LON:KAZ) in a report issued on Thursday, Digital Look reports. Morgan Stanley currently has a GBX 650 ($8.49) target price on the copper miner’s stock.

Several other equities research analysts have also recently issued reports on KAZ. Peel Hunt reaffirmed a buy rating and set a GBX 755 ($9.87) target price on shares of KAZ Minerals in a research note on Thursday, August 15th. Royal Bank of Canada lifted their target price on shares of KAZ Minerals from GBX 620 ($8.10) to GBX 630 ($8.23) and gave the stock a sector performer rating in a research note on Friday, June 28th. JPMorgan Chase & Co. lowered their target price on shares of KAZ Minerals from GBX 590 ($7.71) to GBX 575 ($7.51) and set a neutral rating on the stock in a research note on Thursday. Peel Hunt reaffirmed a buy rating and set a GBX 755 ($9.87) target price on shares of KAZ Minerals in a research note on Thursday, August 15th. Finally, UBS Group reaffirmed a buy rating on shares of KAZ Minerals in a research note on Friday, August 16th. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average price target of GBX 700.83 ($9.16).

KAZ Minerals stock opened at GBX 459.80 ($6.01) on Thursday. KAZ Minerals has a 1 year low of GBX 375.80 ($4.91) and a 1 year high of GBX 744.80 ($9.73). The company has a debt-to-equity ratio of 185.76, a quick ratio of 0.89 and a current ratio of 1.57. The company’s fifty day moving average price is GBX 477.55 and its 200 day moving average price is GBX 577.50. The stock has a market capitalization of $2.17 billion and a P/E ratio of 4.65.

The firm also recently announced a dividend, which will be paid on Friday, October 25th. Shareholders of record on Thursday, October 3rd will be paid a dividend of GBX 3.30 ($0.04) per share. The ex-dividend date is Thursday, October 3rd. This represents a yield of 0.79%. KAZ Minerals’s dividend payout ratio (DPR) is presently 0.07%.

In related news, insider Charles Watson purchased 3,246 shares of KAZ Minerals stock in a transaction dated Thursday, August 15th. The shares were acquired at an average price of GBX 452 ($5.91) per share, for a total transaction of £14,671.92 ($19,171.46). Also, insider Andrew Southam sold 147,608 shares of KAZ Minerals stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of GBX 398 ($5.20), for a total value of £587,479.84 ($767,646.47).

About KAZ Minerals

KAZ Minerals PLC, together with its subsidiaries, engages in mining and processing copper and other metals primarily in Kazakhstan and Kyrgyzstan. It operates through Bozshakol, Aktogay, and East Region and Bozymchak segments. The company operates the Bozshakol open pit mine in the Pavlodar region of Kazakhstan; Aktogay open pit mine located in the east of Kazakhstan; three underground mines and concentrators located in the eastern region of Kazakhstan; and the Bozymchak copper-gold open pit mine located in western Kyrgyzstan.

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Analyst Recommendations for KAZ Minerals (LON:KAZ)

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