[ET Net News Agency, 27 November 2019] UOB Kay Hian raised its target price for Zijin
Mining (02899) to HK$4.12 from HK$3.87 and maintained its "buy" rating.
The research house said Zijin has recently completed an RMB8bn A-share placement. It
helped easing the company's finance cost pressure and supported its long-term growth.
Zijing also announced its 2020-22 production plan and it expects to deliver 7.9-11.5% CAGR
in gold output and 21.9-26% CAGR in copper output.
It will continue with its M&A strategy and place emphasis on gold mine projects. UOBKH
maintained Zijin as its top buy in the metals sector. (KL)