Gelonghui, May 17 | According to a research report published by DBS, Zijin Mining is benefiting from strong gold and copper price trends, increased mining production, and active mergers and acquisitions and improved operating efficiency. The growth prospects are positive. It is predicted that every 1% increase in copper and gold prices will drive up 0.9% and 0.5% in earnings per share, respectively. The bank maintained a “buy” rating for Zijin, raising earnings estimates of 20% and 12% for this year and next, respectively, to reflect the latest forecast for copper and gold prices, and raised its target price for H shares from HK$16 to HK$22, corresponding to the projected price-earnings ratio of about 8.6 times in 2024.
大行评级｜星展：上调紫金矿业目标价至22港元 维持“买入”评级
Bank Rating | DBS: Raising Zijin Mining's Target Price to HK$22 to Maintain “Buy” Rating
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