Latest Search
Quote
| Back Zoom + Zoom - | ||||
|
<Research>HSBC Research Lifts TPs for Zijin Series of Companies, Expects Copper/ Gold Prices to Remain High
Recommend 12 Positive 28 Negative 15 |
||||
|
||||
|
Given higher forecasts for gold and copper prices, the target price for H-share ZIJIN MINING (02899.HK) was raised from HKD43 to HKD58, that for A-share Zijin Mining (601899.SH) from RMB39.2 to RMB51.2, and that for ZIJIN GOLD INTL (02259.HK) from HKD178 to HKD269, with Buy rating maintained, HSBC Global Investment Research said in its report. The broker anticipated that copper prices will remain elevated in 2026, underpinned by structurally tight market. Meanwhile, a waning USD and rising geopolitical uncertainties will continue to provide solid support for gold prices. Additionally, ZIJIN GOLD INTL acquired Allied Gold, which includes three gold mines. The broker expected the CAGR of ZIJIN GOLD INTL's gold production to reach approximately 37% from 2025 to 2027. The acquisition also expands the company's gold asset portfolio to 13 gold mines across 12 markets, creating regional synergies. As for ZIJIN MINING's Julong Copper Mine, the expansion progress aligns with the broker's expectations, with copper production expected to hike from approximately 186,000 tons in 2025 to about 204,000 tons in 2026. AASTOCKS Financial News Website: www.aastocks.com |
||||
Copied to Clipboard
 |
||||
