On July 16, Zhaojin Mining rose 3.15% in regular trading, trading at 18.75 HKD/share, with turnover of approximately 45.09 million HKD.
On the news front, the gold sector staged a collective rebound after consecutive days of decline, with peer stocks Zijin Gold International up 7.76%, Lingbao Gold up 5.84%, SD Gold up 4.51%, and Zijin Mining up 4.24%, indicating significant sector recovery momentum. Zhaojin Mining had previously fallen over 9% cumulatively across three consecutive trading sessions, primarily dragged down by spot gold losing the psychological $4,000/oz level and rising Fed rate hike expectations.
On the institutional front, BOCI recently reaffirmed a Buy rating on the company and raised its target price to 45.5 HKD, while Citi maintained a 41.4 HKD target price with a Buy rating, citing strong production growth prospects. Institutions are broadly optimistic about the output expansion potential following the commissioning of the company's undersea gold mine project, which is expected to produce at least 15 tonnes of gold annually upon reaching full capacity.
(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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