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USD depreciation hits the metal market - KGHM metals target price reduced to PLN 133

TAG'S: KGHM, Metals Industry

The equilibrium on the copper market and the USD depreciation are not favorable for further share price growth with weak demand for copper remaining the main risk, the analysts write. A possible improvement of results has already been priced in, the experts believe. Stronger silver and a potential improvement at the group's Sierra Gorda mine project are the main opportunities.


KGHM was trading at PLN 126.5 at the time of preparing the report and closed at PLN 123 on Thursday, the last trading day ahead of the Easter break.


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