Movement Alert|Zijin Gold International Falls 3.05% in Regular Trading, Multiple Major Banks Flag Q2 Earnings Miss

Market Focus07-13 11:10

On July 13, Zijin Gold International fell 3.05% in regular trading, trading at 95.25 HKD/share, with turnover of HKD 129 million.

On the news front, Bank of America Securities issued a research note stating that Zijin Mining's Q2 recurring net profit missed expectations, primarily attributable to Zijin Gold International's weak second-quarter performance. Bank of America lowered its target price for Zijin Gold International to 140 HKD, citing the earnings miss. Separately, JP Morgan noted that Zijin Gold International's Q2 profit estimate of approximately USD 590 million significantly undershot its forecast of USD 830 million, driven by declining gold prices, copper and gold production target completion rates below 50%, and more pronounced cost inflation.

Within the Gold sector, the broader segment came under pressure. Among individual stocks, SD Gold down 3.10%, Zhaojin Mining down 2.70%, Zijin Mining down 2.67%, Lingbao Gold down 1.43%, and China Gold International down 0.94%.

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