On July 16, Zijin Mining rose 3.11% in regular trading, trading at HK$31.2/share, with turnover of HK$620 million. The rally was driven by the companys strong half-year earnings preview combined with a wave of bullish investment bank endorsements.
Zijin Mining previously disclosed that it expects H1 attributable net profit of approximately RMB 39.1 billion, a 68% year-over-year increase, while non-recurring adjusted net profit is expected at RMB 37.9 billion, up 75% YoY, both marking historical highs for the period. The company cited rising sales prices across key mineral products and steady output growth as primary contributors.
On the ratings front, JPMorgan maintained its Overweight rating with a HK$50 target price, listing the stock as its top sector pick. Citi initiated a 30-day positive catalyst watch with a Buy rating and HK$51.8 target, while BOC International also maintained its Buy rating. Additionally, the company declared an interim dividend of RMB 4.20 per 10 shares, totaling approximately RMB 11.14 billion.
Within the Gold sector, peers showed broad strength: Zijin Gold International up 6.45%, Lingbao Gold up 4.53%, SD Gold up 3.89%, Chifeng Gold up 2.34%, and China Gold International up 1.47%.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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