ZIJIN GOLD INTL (02259) gained over 3% against the market trend, rising 2.53% to HK$141.6 by the time of writing, with a trading volume of HK$232 million. HSBC noted in a research report that the company is poised for a growth phase in the coming years, driven by increased production across its mines and supported by a strong balance sheet. Effective cost control and a track record of turning around underperforming assets further bolster profitability. HSBC initiated coverage with a "Buy" rating and a target price of HK$178, estimating that a 1% rise in gold prices could lift earnings by approximately 1.4%.
BNP Paribas highlighted ZIJIN GOLD INTL as China's largest gold miner, ranking ninth globally in gold reserves. The bank initiated coverage with an "Outperform" rating, citing optimism over robust production growth, competitive resource quality, solid operational performance, and strong value creation through acquisitions. BNP Paribas projects gold prices to remain around $3,750 per ounce over the next 12 months.
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