Movement Alert｜ZHAOJIN MINING falls 3.22% in Regular Trading, Gold Price Below 4000 Dollars Weighs on Gold Stocks

Market Focus09:41

On November 2, ZHAOJIN MINING fell 3.22% in regular trading, trading at HK$14.96, with turnover of HK$36.18 million.

The move came as spot gold recently slipped below the key 4000 dollars per ounce level, pressuring Hong Kong-listed gold shares broadly. Peer weakness was evident across the sector, with LINGBAO GOLD falling 6.47%, SD GOLD falling 2.59%, CHIFENG GOLD falling 2.49%, ZIJIN GOLD INTL falling 2.43%, and CHINAGOLDINTL falling 2.05%.

Company fundamentals have also provided limited support. ZHAOJIN MINING previously reported revenue of RMB13.51 billion for the first three quarters, up 8.69% year on year, while net profit attributable to shareholders fell 6.98% to RMB1.97 billion. Earlier disclosures indicated that production disruption from mine shutdowns for rectification and higher costs weighed on margins, amplifying share-price pressure during the sector pullback.

(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