GLONGHUI, August 26 | Goldman Sachs released a report saying that Zijin Mining (2899.HK)'s recurring net profit increased 51% year-on-year to 15.7 billion yuan in the first half of the year due to higher average sales prices and lower expected costs due to operational improvements, exceeding the bank's and market expectations. The company announced interim interest, which is equivalent to a dividend payout rate of 18%, up from 13% for the same period last year. The bank reiterated that purple metals is one of the few mining companies that can simultaneously benefit from rising sales volume and commodity prices. The company's continued operation improvements or brought an upward surprise to profits, and raised its recurrent net profit forecast for 2024 to 2026 by 4% to 17%. The bank maintained Zijin's “buy” rating and raised its target price from HK$19 to HK$21.5.
大行评级丨高盛：紫金矿业中期业绩胜预期，上调目标价至21.5港元
Large-scale rating | Goldman Sachs: Zijin Mining Group's mid-term performance exceeds expectations, raising the target price to HKD 21.5.
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