High copper prices are not enough to stave off KGHM's critics

This has caused market watchers to speculate that copper miner KGHM, the world's sixth biggest copper producer, will post good Q1 results. BDM PKO BP analyst Sebastian SłomkaIt says that KGHM may even post a Q1 net profit of zł.400 million. However, over the course of the year the price of copper is likely to go down. Michał Marczak from DI BRE Bank believes copper prices will fall to USD 2,700 per ton by the end of the year. Despite high copper prices, in a March 3 report, Marczak valuated KGHM shares at zł.27.3 and changed his recommendation from 'keep' to 'let go'. Yesterday KGHM share price fell by 0.6% to reach zł.30.6. (Parkiet p. 3) M.G.