On July 14, Zijin Gold International fell 3.28% in regular trading, trading at HK$94.1/share, with turnover of HK$19.98 million.
On the news front, spot gold plunged 2.59% to $4,007.12/oz after U.S. President Trump announced the restart of an Iran blockade order, restoring maritime blockade on Iran and imposing a 20% fee on Strait of Hormuz cargo. Gold briefly broke below the $4,000 level for the first time since July 1, putting direct pressure on gold mining equities.
The decline compounds ongoing negative sentiment from multiple investment banks flagging the company's Q2 earnings as below expectations. JPMorgan noted Q2 profit of approximately $590 million significantly missed its estimate of $830 million, citing gold price declines, copper-gold production target completion below 50%, and cost inflation. Bank of America similarly attributed the broader Zijin Mining Q2 miss primarily to Zijin Gold International's weak quarterly performance.
Within the Gold sector, the majority of peers traded lower, with SD Gold down 3.20%, Chifeng Gold down 3.39%, Zijin Mining down 2.03%, and China Gold International down 1.36%.
(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.)
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