HK Stock Market Move | ZIJIN GOLD INTL (02259) rises more than 3% against the market, its various mines have increased production, and it is expected to enter a growth phase in the coming years.

ZIJIN GOLD INTL (02259) rose more than 3% against the market, rising 2.53% to HK$141.6 as of press time, with a turnover of HK$2.32 billion. HSBC released a research report stating that as the production of ZIJIN GOLD INTL's various mines increases, the company is expected to enter a growth phase in the coming years, benefiting from its strong balance sheet. The company's good cost control and successful turnaround of underperforming assets provide support for profit margins. HSBC initiated coverage of ZIJIN GOLD INTL with a "buy" rating and a target price of HK$178, estimating that for every 1% increase in gold prices, there is a potential 1.4% upside in earnings. On the other hand, BNP Paribas stated that ZIJIN GOLD INTL is China's largest gold mining company, ranking ninth globally in terms of gold reserves. The bank initiated coverage of ZIJIN GOLD INTL with an "outperform" rating, optimistic about its strong production growth, competitive resource quality in the global market, solid operational record, and strong ability to create value through acquisitions. BNP Paribas predicts that gold prices will remain around $3,750 per ounce in the next 12 months.