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<Research>HSBC Research: ZIJIN MINING Nourished by Fading Recession Fears, Rising Uncertainty
Recommend 9 Positive 11 Negative 4 2025/04/15 03:22 GMT
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HSBC Global Research said that ZIJIN MINING (02899.HK) logged a 1Q25 NPAT of RMB10.2 billion, up 32% QoQ and 62% YoY. The spike was galvanized by higher sales volume of mined gold and higher ASP for both gold and copper products, offsetting increased operating and management costs. The broker noted fading global recession fears, tight supply and additional stimulus measures unrolled by China prompted a renewed preference for copper, and reaffirmed bullishness on gold due to heightened global uncertainty and strong central bank demand. HSBC Global Research raised Zijin’s profit forecasts for 2025 and 2026 by 5% and 2%, respectively, lifting the target price from HKD21 to HKD22.2 while maintaining a Buy rating. AAStocks Financial News |
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