Citi: Lowers Zijin Mining Group (02899) target price to HK$52.1, maintains "Buy" rating
The bank lowered its 2026 to 2028 earnings forecasts by 7%, 15%, and 9% respectively to RMB76.8 billion, RMB78.7 billion, and RMB88 billion.
Citi issued a research report stating that after Zijin Mining Group (02899) held its third-quarter results conference, the bank updated its model, lowering the H-share target price from HK$60.5 to HK$52.1 and the A-share target price from RMB52.6 to RMB45.3, while maintaining a "Buy" rating.
The bank noted that the model was updated to reflect the latest price forecasts, management guidance, and third-quarter results. The bank lowered its earnings forecasts for 2026 to 2028 by 7%, 15%, and 9% respectively to RMB76.8 billion, RMB78.7 billion, and RMB88 billion, mainly reflecting rising unit costs for mined gold and copper as well as a downward revision to mined gold output, with the earnings forecasts 4%, 14%, and 16% below market expectations, respectively.
Related Articles
Victory Giant Technology (02476) plans to make additional investments of no more than US$800 million and US$700 million in its wholly-owned indirect subsidiaries Victory Giant Technology (Thailand) and Victory Giant Technology (Vietnam), respectively.
MICROPORT (00853): Shanghai MicroPort Endovascular MedTech (Group) Co., Ltd. reported a net profit attributable to shareholders of RMB449 million for the first three quarters, up 4.55% year on year.
KEYMED BIO-B (02162) intends to purchase shares under the 2022 Restricted Share Unit Plan.
Victory Giant Technology (02476) plans to make additional investments of no more than US$800 million and US$700 million in its wholly-owned indirect subsidiaries Victory Giant Technology (Thailand) and Victory Giant Technology (Vietnam), respectively.
MICROPORT (00853): Shanghai MicroPort Endovascular MedTech (Group) Co., Ltd. reported a net profit attributable to shareholders of RMB449 million for the first three quarters, up 4.55% year on year.
KEYMED BIO-B (02162) intends to purchase shares under the 2022 Restricted Share Unit Plan.
