[ET Net News Agency, 6 November 2023] HSBC Global Research initiates coverage of Zijin
Mining (02899) with a target price of HKD15 and a "buy" rating.
The research house said it forecasts an earnings CAGR of 13% for Zijin over 2022-25e due
to its capacity expansion, with most of its earnings growth coming in 2024-25e (+18% and
+14% y-o-y respectively).
It believes Zijin's share price is highly correlated to the copper price. Further
weakness in the copper price is unlikely given support from structural demand, low
inventory levels in China, and consensus expects the price to stay elevated in the medium
term. (RC)
|
|
|
|
|
|
|
|
|
|
Super Quote | Detail Quote | Interactive Chart | Transaction | Related News | Related Securities | Company Information | Dividend Records | Short Sell
02899 ZIJIN MINING
Nominal 
17.620 +0.560 (+3.283%) Research Report
06/11/2023 15:39
{I-bank focus}HSBC starts Zijin Mining (02899) at HKD15
Previous︰31/01/2024 16:10 {I-bank focus}HSBC lowers Zijin Mining (02899) to HKD15.5
| Remark: | Real time quote last updated: 26/04/2024 18:00 |
| Real-time basic market prices of Hong Kong securities are provided by HKEx; a Designated Website authorized by the HKEx Group to provide the Service |