Stock Track | Jiaxin International Resources Soars 5.18% Intraday on Target Price Upgrade and Share Buyback Plan

Stock Track05-07 10:15

Jiaxin International Resources' stock soared 5.18% during intraday trading on Thursday.

The significant rise is attributed to a dual boost in market confidence. Firstly, CICC raised the company's target price by 67% to 158.3 HKD. Secondly, the company announced an authorized share buyback program for up to 10% of its issued shares.

Fundamentally, the company's core asset, the Bakuta tungsten mine in Kazakhstan, is in a rapid production ramp-up phase with strong output growth projected. Analysts point to estimated supply-demand gaps for tungsten concentrate in the coming years, which supports sustained high pricing for the commodity.

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