Stock Track | Jiaxin International Resources Soars 5.03% Intraday on CICC Target Price Hike and Share Buyback Plan

Stock Track04-29

Jiaxin International Resources' stock soared 5.03% intraday on Wednesday, marking a significant positive movement.

The surge is attributed to a research report from CICC that maintained an Outperform rating on the company and significantly raised its target price by 67% to 158.3 HKD. The broker expressed optimism regarding the expansion of the Bakuta tungsten mine and the growth potential in Central Asian non-ferrous resource development.

Further supporting market sentiment, the company announced a proposal to authorize share buybacks of up to 10% of its issued shares, approximately 45.57 million shares.

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