[ET Net News Agency, 29 October 2018] Goldman Sachs raised its target price for Zijin
Mining (02899) to HK$3.9 from HK$3.8, and maintained its "buy" rating.
The research house said Zijin's reported 9-month 2018 recurring net profit of Rmb3.7bn
(PRC GAAP) was 93% of Goldman's full-year estimate. It thus revised up its net profit
estimates by 3%/9%/7% for 2018-2020 to reflect lower finance costs and MI in the results.
Goldman believes Zijin is one of the best placed players to benefit from both higher
copper and gold prices, plus volume growth. (KL)