HK Stock Market Move | ZIJIN GOLD INTL (02259) once fell more than 8%; third-quarter net profit declined about 12% quarter-on-quarter; UBS lowered the company's target price.

ZIJIN GOLD INTL (02259) once fell more than 8%, and as of press time, it was down 5.86% at HK$139.7, with a turnover of HK$649 million. On the news front, on the evening of October 19, ZIJIN GOLD INTL announced that for January-September 2026, revenue was US$5.809 billion, up 70% year on year; profit attributable to owners of the parent was US$2.015 billion, up 123% year on year. However, based on the interim results data, the company's third-quarter revenue was about US$1.82 billion, and profit attributable to owners of the company was about US$565 million, down about 5.8% and 12% quarter on quarter, respectively. UBS lowered ZIJIN GOLD INTL's target price by 3.4%, from HK$203 to HK$196, maintaining a "Buy" rating. Zijin Gold's net profit attributable to shareholders in the third quarter of 2026 was US$564 million, down 12% quarter on quarter. The results were below UBS's expectation of US$650 million and the market consensus of US$700 million, mainly due to gold output falling short of expectations. The bank expects investors to react negatively, as this is the company's second quarter in 2026 with earnings below expectations.