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<Research>CICC Lifts ZIJIN MINING (02899.HK) TP to $30, Raises Earnings Forecasts as Interim Results in Line
Recommend 8 Positive 15 Negative 2 |
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ZIJIN MINING (02899.HK)'s interim results were in line with CICC's expectations, with 1H25 operating income of RMB167.711 billion, up 11.5% YoY, according to CICC's research report. Net profit attributable to parent company was RMB23.292 billion, up 54.41% YoY. The Company's copper, gold and lithium output is expected to increase systematically in the future, accelerating performance release, CICC added. The broker raised its 2025/ 2026 net profit attributable to parent company forecasts by 9%/ 22% to RMB45.8 billion/ RMB54.8 billion each, and kept ratings at Outperform for ZIJIN MINING's A-/ H-shares. Considering the valuation pivot upside of the resource sector in both A-/ H-shares, CICC lifted its target prices for ZIJIN MINING's A-/ H-shares by 26.1%/ 40.1% to RMB29/ $30. AASTOCKS Financial News Website: www.aastocks.com |
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