Zhaojin Mining (01818) reported an 80% year-on-year increase in first-quarter net profit, reaching 1.189 billion yuan, primarily benefiting from rising gold prices. Gross profit for the period was 2.073 billion yuan, up 46% compared to the same period last year. Citigroup anticipates that gold production will gradually increase following the mid-March resumption of mining operations, estimating that self-produced gold inventory rose quarter-on-quarter by the end of the first quarter. The firm reaffirmed its "Buy" rating and assigned a target price of HK$37.5.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments