Less Ads, More Data, More Tools Register for FREE

Pin to quick picksKAZ Minerals Share News (KAZ)

Share Price Information for KAZ Minerals (KAZ)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 339.50
Bid: 334.40
Ask: 336.40
Change: -30.70 (-8.29%)
Spread: 2.00 (0.60%)
Open: 360.00
High: 362.10
Low: 335.10
Yest. Close: 370.20
KAZ Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

RNS Alerts are a premium feature

Login to your account

myTerminal is a premium feature

Login to your account

Don't have an account? Click here to register.

Sector movers: Chinese data stokes buying in mining stocks, Kaz rockets

Tue, 10th Jan 2017 14:30

(ShareCast News) - Miners and grocers vied for the top slot on the leaderboard on Tuesday with brokers weighing in with positive remarks on the former while the latter group received a boost in the form of a positive trading update from Morrison.

News that factory gate prices in China blew past forecasts in December - helped by higher industrial commodity prices - stoked fresh gains in metals' prices.

Producer prices in Asia's largest economy hit a five-year high of 5.5% (consensus: 4.6%), which was well above the previous month's reading of 3.3% year-on-year.

"A sharp increase in inflation at the start of 2017 may fuel speculation that rising price pressures will soon force the People's Bank into more aggressive policy tightening. But we think the pick-up will mainly be driven by movements in commodity prices and is unlikely to be sustained," said Capital Economics's China economist Chang Lu.

Analysts at Danske Bank were of a similar view, telling clients: "PPI inflation should peak soon if our forecast of more moderate increases in commodity prices from here is realised. We expect policy rates to stay unchanged but de facto policy is already being tightened through higher money market rates."

As of 1751 GMT, March 2017 copper futures on COMEX were to be seen 2.97% higher to $2.6140 a pound.

"The Metals & Mining and Steel sector outperformed every other European sector in 2016 and we think it can perform well again in 2017 given forecasts of YoY growth in cash-flow, earnings and dividends," analysts at Citi chimed in.

"We think the mining sector is now back to a sufficient size that it cannot be ignored by fund managers," they added.

Against that backdrop, Kaz Minerals outperformed, boosted by a target price upgrade out of Canaccord Genuity from 155p to 475p.

Cannacord analysts Tim Huff and Nick Hatch also upgraded the shares to a 'buy'.

Huff and Hatch referenced "stronger production growth from Bozshakol (and potentially Aktogay), higher copper prices and a much improved cash generation profile to match revised maturities" as the triggers behind their positive target price revision.

For its part, Morrison reported that like-for-like sales excluding fuel grew by 2.9% over the nine weeks to 1 January which, if nothing untoward happened in the rest of the month, would represent the fifth consecutive quarter of growth on that metric.

Top performing sectors so far today

Mining 15,895.83 +4.36%

Food & Drug Retailers 3,197.42 +4.29%

Industrial Metals & Mining 2,160.21 +1.92%

General Industrials 5,806.37 +1.90%

Aerospace and Defence 4,714.28 +1.57%

Bottom performing sectors so far today

Insurance (non-life) 2,700.54 -1.45%

Gas, Water & Multiutilities 5,944.46 -1.29%

Electricity 9,116.92 -0.52%

Software & Computer Services 1,897.70 -0.46%

Food Producers & Processors 7,846.52 -0.39%

More News

UK BROKER RATINGS SUMMARY: Citi Downgrades easyJet And IAG To Neutral

UK BROKER RATINGS SUMMARY: Citi Downgrades easyJet And IAG To Neutral

25 Mar 20 09:38

UK BROKER RATINGS SUMMARY: BHP Gets Upgrades From JPMorgan, Deutsche

UK BROKER RATINGS SUMMARY: BHP Gets Upgrades From JPMorgan, Deutsche

20 Mar 20 09:49

UK BROKER RATINGS SUMMARY: Jefferies Ups Taylor Wimpey, Barratt To Buy

UK BROKER RATINGS SUMMARY: Jefferies Ups Taylor Wimpey, Barratt To Buy

19 Mar 20 09:30

UK BROKER RATINGS SUMMARY: Bernstein Upgrades BAT To Outperform

UK BROKER RATINGS SUMMARY: Bernstein Upgrades BAT To Outperform

5 Mar 20 09:23

UK BROKER RATINGS SUMMARY: UBS Reduces Micro Focus To Neutral From Buy

UK BROKER RATINGS SUMMARY: UBS Reduces Micro Focus To Neutral From Buy

21 Feb 20 09:23

Kaz Minerals reports on solid year of production

(Sharecast News) - Kaz Minerals reported a 5% improvement in revenue in its final results on Thursday, to $2.27bn (?1.76bn), as higher production and sales offset lower copper prices.

20 Feb 20 10:46

KAZ Minerals Earnings Surge In 2019 Amid Accelerated Production

KAZ Minerals Earnings Surge In 2019 Amid Accelerated Production

20 Feb 20 09:58

UK Earnings, Trading Statements Calendar - Next 7 Days

UK Earnings, Trading Statements Calendar - Next 7 Days

13 Feb 20 16:12

Wednesday broker round-up

(Sharecast News) - Antofagasta: Deutsche Bank upgrades to hold with a target price of 850p.

5 Feb 20 13:17

Deutsche Bank upgrades Antofagasta, Kaz after coronavirus correction

(Sharecast News) - Deutsche Bank upgraded its stance on shares of Antofagasta and Kaz Minerals on Wednesday following the recent correction on concerns about the impact of the coronavirus.

5 Feb 20 12:19

UK BROKER RATINGS SUMMARY: SocGen Raises easyJet To Hold From Sell

UK BROKER RATINGS SUMMARY: SocGen Raises easyJet To Hold From Sell

5 Feb 20 09:35

UK WINNERS & LOSERS SUMMARY: BT Falls After Third Quarter Disappoints

UK WINNERS & LOSERS SUMMARY: BT Falls After Third Quarter Disappoints

30 Jan 20 10:43

Kaz Minerals Beats Production Guidance As Mines Perform Strongly

Kaz Minerals Beats Production Guidance As Mines Perform Strongly

30 Jan 20 09:49

Kaz Minerals Q4 copper production beats forecasts

(Sharecast News) - Kaz Minerals reported a better-than-forecast rise in annual copper production as its Aktogay mine in East Kazakhstan outperformed.

30 Jan 20 08:33

Kaz Minerals Secures Increase In Loan Facility To USD1 Billion

Kaz Minerals Secures Increase In Loan Facility To USD1 Billion

29 Jan 20 11:55

Login to your account

Don't have an account? Click here to register.