GTHT Initiates Coverage on ZIJIN GOLD INTL with "Accumulate" Rating, Target Price HK$163.80

Deep News10-18

GTHT has released a research report stating that it expects ZIJIN GOLD INTL (02259) to report EPS of US$1.05/1.25/1.62 per share for 2026-2028, and based on a valuation of 20x PE for 2026 with reference to comparable companies, it assigns a 2026 target price of HK$163.8 (calculated at an exchange rate of 1 US dollar to 7.8 Hong Kong dollars), initiating coverage with an "Accumulate" rating.

The firm believes that the company's organic and inorganic growth will jointly drive production increases, and gold output and performance will be released as scheduled.

The company has established a global portfolio of high-quality gold mines, with gold mining operations located in Central Asia, Africa, Australia, and South America, demonstrating outstanding capabilities in global mining operations.

In 2025, the company's gold reserves (proven plus probable) totaled 917 tonnes, and the company added 45.6 tonnes of attributable gold resources in 2025, reflecting abundant gold resources.

Core mines such as Ruiguoduo, Akim, and Rosebel have strong organic growth momentum and are expected to continue contributing incremental output from 2026 to 2028.

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