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Citi Raises ZHAOJIN MINING (01818.HK) TP to HKD41.4, Reiterates Buy
Recommend 11 Positive 10 Negative 7 |
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Citi published a research report noting that the share price of ZHAOJIN MINING (01818.HK) has undergone a short-term adjustment due to market concerns over US interest rate hikes and a recent mining accident. However, the broker believes the company will benefit from strong production growth. The broker remains cautious on the short-term outlook for gold prices, but expects that when tensions in the Strait of Hormuz eventually ease, the macro headwinds facing gold will diminish, allowing gold prices to emerge from the trough. It forecasts average gold prices of USD4,775 per ounce in 2026 and USD5,000 per ounce in 2027. Taking into account higher gold price forecasts, costs and lower self-produced gold output projections, the broker raised its earnings forecasts for ZHAOJIN MINING for FY2026 and FY2027 by 14% and 54% to RMB4.839 billion and RMB6.488 billion, respectively, and expects earnings to reach RMB9.956 billion in 2028. The broker lifted its TP from HKD37.5 to HKD41.4 and reiterated its Buy rating. (sl/u) Auto-translated by AI This article was automatically translated by AI, the original language version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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