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KAZ earns RBC upgrade

KAZ Minerals' (LN:KAZ) half-year results released last week showed higher earnings, lower costs, better cash flows and lower debt than the market had been anticipating. With the company enjoying the rising copper price so far in the second half – it was up 17% in two months to around US$6,550 per tonne this week – at least one bank is recalibrating its expectations for the Central Asia-focused miner.

KAZ earns RBC upgrade KAZ earns RBC upgrade KAZ earns RBC upgrade KAZ earns RBC upgrade KAZ earns RBC upgrade

KAZ Minerals has outdone itself and the market is now anticipating more of the same in a rising copper-price setting

RBC Europe this week released an updated model for KAZ incorporating last week's numbers and has subsequently upped its target price by more than 10% to 7.40 (US$9.

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