On July 10, Zijin Mining rose 3.26% in regular trading, trading at HKD 30.42/share, with turnover of HKD 530 million.
On the news front, the company released its H1 earnings pre-announcement on the evening of July 9, forecasting attributable net profit of approximately RMB 39.1 billion, up about 68% year-over-year, setting a new record for the same period. Non-recurring adjusted net profit reached approximately RMB 37.9 billion, a 75% YoY increase, with Q2 adjusted net profit of roughly RMB 19.4 billion, up 5% sequentially. Subsidiary Zijin Gold International expects H1 net profit of approximately USD 1.4 billion, a surge of 169% YoY.
The strong earnings growth was primarily driven by the gold segment achieving simultaneous volume and price increases, while elevated copper prices provided additional profit support. Citi previously initiated a 30-day positive catalyst watch on the stock with a Buy rating and a target price of HKD 51.8, citing the company as a sector leader with compelling valuation following a 30%-plus pullback from its prior high.
(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.)
Comments