Koza Anadolu Rises for Third Day in Istanbul on Ekspres Upgrade

Koza Anadolu Metal Madencilik Isletmeleri AS (KOZAA), a Turkish miner, rose for a third day after Ekspres Invest put the company on its recommended stocks list, saying new projects offer high growth potential.

The shares climbed 2.7 percent to 3.86 liras at 10:10 a.m. in Istanbul, the biggest jump on a closing basis since June 29. Istanbul-based brokerage Ekspres added Koza to its “long ideas list” while cutting Bizim Toptan Satis Magazalari AS (BIZIM), a discount retailer, according to an e-mailed report today.

Koza Anadolu will benefit from “the exploration of new copper minerals through two new projects, which will diversify the holding portfolio with well-positioned and high-growth promising mining assets,” Ekspres said.

The 12-month price estimate for the share is 5.12 liras, according to Ekspres.

To contact the reporter on this story: Benjamin Harvey in Istanbul at bharvey11@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.