JP Morgan: The production growth of Zijin Mining Group (02899) is increasingly positive and continues to be listed as the top choice in the basic materials sector.

JPMorgan Chase released a research report stating that it maintains a target price of HK$48 for Zijin Mining Group (02899) H shares and a target price of RMB 45 for Zijin Mining Group A shares (601899.SH). Both receive a "buy" rating and continue to be listed as preferred in the basic materials sector. Zijin Mining Group management stated at an investor conference that the new management team is internally trained, and the strategic direction and focus remain unchanged, with the goal of expanding copper and gold resources. Additionally, there is an upward risk in current production guidance, and the company is developing a new round of guidance. Overall mining costs are trending upward but are still under control, while overseas tax payments and franchise fees may fluctuate with high metal prices. The bank's view on the company's production growth has become more positive. In addition to strong commodity price trends, expected new mergers and acquisitions at reasonable prices, and updates to production guidance in the next 3 to 5 years, will serve as positive catalysts for the stock.