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02899 ZIJIN MINING
RTNominal down3.000 -0.020 (-0.662%)
Others

11/11/2019 18:01

{I-bank focus}CS starts Zijin Mining (02899) at HK$4

[ET Net News Agency, 11 November 2019] Credit Suisse initiated coverage on Zijin Mining
(02899) with an "outperform" rating and a target price of HK$4.
The research house said Zijin's well-structured product-mix provides earnings resilience
and volume growth potential. Credit Suisse estimated the gold price to average at
US$1,570/oz (+11% YoY) in 2020; and together with 3% higher gold production, it estimated
Zijin's net profit to reach Rmb4.4 bn/Rmb5.5 bn/Rmb5.6 bn in 2019/20/21.
Credit Suisse said Zijin is a diversified metal producer, with a focus on gold. Revenue
from gold/copper account for 60%/30% of total revenue. The mix gives Zijin more resilience
in earnings, making the company more immune to sharp changes in any single product's
price. (KL)

Remark: Real time quote last updated: 06/12/2019 17:59
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