Movement Alert｜ZIJIN MINING Falls 3.51% in Regular Trading, Earnings Watch and Sector Weakness Pressure Shares

Market Focus10-23

On October 23, ZIJIN MINING fell 3.51% in regular trading, trading at HK$27.96, with turnover of HK$202 million.

The move was accompanied by a cautious tone ahead of the company’s third-quarter results due later that day, while consensus quarterly revenue and profit forecasts were not available and peer diversified metals and mining names also traded lower.

Recent disclosures showed ZIJIN MINING had completed the acquisition of control of Chifeng Gold, ending with total holdings of 571.7 million shares, or 25.85% of total share capital, after taking over 241.9 million A shares and subscribing for 310.9 million newly issued H shares. However, that transaction did not offset the earnings-day caution. Sector sentiment was also soft, with CMOC falling 2.67%, MMG 2.85%, WANGUO GOLD GP 5.19%, JIAXIN INTL RES 1.46%, and LYGEND RESOURCE 1.67%.

(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.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment