Boliden received conflicting analyst ratings following its acquisition of Nexa Resources. SB1 Markets reiterated its buy rating and raised the price target from 660 to 700 SEK. The firm cited rising metal prices and the Nexa deal as primary earnings drivers.
Handelsbanken downgraded Boliden to hold from buy, despite slightly raising its target to 614 SEK. Analysts pointed to the stock's recent rally and increased geographic risk associated with the acquisition.
Separately, Swedbank Robur Fonder reduced its holding in the mining company. The fund's stake fell to 4.98% of capital and voting rights as of August 27. This move brings the institutional investor's position below the 5% mandatory disclosure threshold.