[ET Net News Agency, 3 December 2020] Credit Suisse raised its target price for Zijin
Mining (02899) to HK$10 from HK$7.1 and maintained its "outperform" rating.
The research house revised up copper price forecasts, given forecasts of a deficit in
2021 and a tight market in subsequent years. It thinks Zijin would benefit from strong
copper prices.
Zijin plans to double its mined copper production by 2023, with additions from Kamoa and
Timok mines. Credit Suisse also expects loose monetary policies (especially zero interest
rate in the US) to lend support to gold prices and benefit Zijin's gold mining business.
It revised up Zijin 2020-22 forecasts by 7%/20%/37% to reflect higher copper price
assumptions. (KL)
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02899 ZIJIN MINING
Nominal 
17.080 +0.100 (+0.589%) Others
03/12/2020 17:39
{I-bank focus}Credit Suisse raises Zijin Mining to HK$10
| Remark: | Real time quote last updated: 25/04/2024 15:18 |
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