Citigroup raises the target price of Jiangxi Copper (00358) to HK$39.8 as copper and gold prices are expected to increase, driving up gross profit.

13:30 16/12/2025

Based on the company guidelines, the bank has raised its profit forecasts for 2025 to 2027 by 8%, 38%, and 11%, respectively, to 8.2 billion, 11.8 billion, and 11.5 billion Chinese yuan.

Citibank released a research report stating that although it is expected that the gross profit of JIANGXI COPPER (00358) copper smelting business will decrease year-on-year next year, and there will be downward pressure on long-term smelting and refining business, it is anticipated that the prices of copper, gold, and sulfuric acid will increase, which will drive the company's overall gross profit up next year. The target price of Jiangxi Copper H shares has been raised from HKD 27.9 to HKD 39.8, and the target price of Jiangxi Copper (600362.SH) A shares has been raised from RMB 33.8 to RMB 47.9; the bank believes that the current valuation is attractive and maintains a "buy" rating for both A shares and H shares. The bank's latest forecast for next year is a copper price of $12,750 per ton and a gold price of $3,925 per ounce. Combining the company's guidance, the bank has raised its profit forecasts for the company for 2025 to 2027 by 8%, 38%, and 11%, to RMB 8.2 billion, 11.8 billion, and 11.5 billion respectively.

Goldwind Science & Technology (02208) shareholders Xie Jiankang and He Weifeng have cumulatively reduced their holdings by approximately 35.9499 million shares.

Morgan Stanley predicts that the upward trend of gold prices will slow down, reaching $4800 in the fourth quarter of next year.

China Zheshang Bank (02016) company's directors, supervisors, and senior management have collectively increased their holdings of the company's A shares by 6.7122 million shares.

Goldwind Science & Technology (02208) shareholders Xie Jiankang and He Weifeng have cumulatively reduced their holdings by approximately 35.9499 million shares.

Morgan Stanley predicts that the upward trend of gold prices will slow down, reaching $4800 in the fourth quarter of next year.

China Zheshang Bank (02016) company's directors, supervisors, and senior management have collectively increased their holdings of the company's A shares by 6.7122 million shares.