On September 1, SD GOLD fell 3.16% in regular trading, trading at HKD 26.4, with turnover of HKD 397 million. The decline comes after the stock surged over 7% in the prior session, driven by strong interim results showing attributable net profit of approximately RMB 3.54 billion for H1, up 26.17% year-on-year, beating analyst expectations by 33%.
However, gold prices recently plunged below the USD 4,500 per ounce level following hawkish remarks from a Federal Reserve official, triggering broad selling pressure across the precious metals sector. BOCI raised its target price for SD GOLD to HKD 40.36 while maintaining a Buy rating, citing H1 profit growth and steady progress on capacity expansion projects including overseas mines that produced 6.69 tonnes of gold, up 18.03% year-on-year.
Within the Gold sector, performance was mixed. Zijin Gold International rose 1.58%, China Gold International gained 1.41%, while Lingbao Gold dipped 0.9%, Chifeng Gold fell 2.51%, and Zhaojin Mining declined 3.45%.
(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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