Movement Alert|Lingbao Gold Rises 5.12% in Regular Trading, Gold Sector Rebounds as Company Sustains Aggressive Buyback Program

Market Focus09:32

On June 12, Lingbao Gold (03330.HK) rose 5.12% in regular trading, trading at HKD 14.48/share, with turnover of HKD 28.54 million. The stock rebounded after consecutive sharp declines of over 5-8% in recent sessions amid a broader gold sector recovery.

The gold sector saw a broad-based rebound, with China Gold International up 4.78%, Zijin Mining up 4.26%, Zhaojin Mining up 3.89%, Chifeng Gold up 3.28%, and Zijin Gold International up 2.84%. Gold prices had previously plunged from USD 5,300 to approximately USD 4,200 per ounce, a decline exceeding 20%, driven by surging Fed rate hike expectations following strong U.S. May non-farm payrolls data of 172,000 jobs versus the 85,000 expected.

The company has maintained an aggressive buyback program, spending approximately HKD 7.91 million to repurchase 572,000 shares on June 9, and adjusting its maximum on-market buyback quantity to 2.17% of total issued shares. Cumulative repurchases have reached approximately 2.88 million shares under the current authorization, signaling management confidence amid the sector downturn.

(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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