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大摩:予紫金矿业(02899)“增持”评级 目标价20.2港元

Daiwa: Maintains a "shareholding" rating for Zijin Mining Group (02899) with a target price of HKD 20.2.

Zhitong Finance ·  Oct 21, 2024 11:51  · Ratings

Zijin Mining Group's copper and gold production is expected to reach the annual target.

According to the Wisdom Financial APP, Morgan Stanley released a research report stating a "shareholding" rating for Zijin Mining Group (02899), with a target price of 20.2 Hong Kong dollars. The company's net income increased by 51% year-on-year in the first nine months, and the net income for the third quarter increased by 5% quarterly, meeting expectations.

The bank stated that Zijin's gross profit for the third quarter was 14.7 billion Chinese yuan, compared to 14.9 billion Chinese yuan for the second quarter. Due to the drag of copper prices, the overall gross margin contracted from 19.7% in the second quarter to 18.4% in the third quarter. Copper and gold production are expected to reach the annual target.

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