BOCI: Lowers Shandong Gold Mining (01787) target price to HK$38.04; earnings expected to achieve strong growth as production normalizes.
Although the company currently expects net profit to decline in 2026, with production returning to normal, results are expected to achieve strong growth in 2027.
BOCI released a research report stating that Shandong Gold Mining (01787) has lowered its 2026 gold production guidance by 22% to 27% due to slow production recovery caused by strict safety controls and engineering construction disruptions. The bank reiterated its "Buy" rating on Shandong Gold Mining and lowered its target price to HK$38.04.
After incorporating the company's updated production guidance, the bank lowered its 2026 core earnings per share forecast by 22%. Although the company currently expects a decline in net profit in 2026, performance is expected to achieve strong growth in 2027 as production normalizes.
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