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<Research>JPM Turns More Positive on ZIJIN MINING Output Growth, Continues to List Firm as Top Pick in Basic Materials Sector
Recommend 6 Positive 5 Negative 3 |
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The management of ZIJIN MINING (02899.HK) said at an investor meeting that the new management team has been internally cultivated, with strategic direction and focus remaining unchanged, and an aim to expand copper and gold resources, according to JPMorgan's research report. JPMorgan turned more positive on the Company's output growth. Besides the strong trend in commodity prices, it is expected that new mergers and acquisitions at reasonable prices, along with updates to output guidance over the next 3-5 years, will act as positive catalysts for the stock. Therefore, the broker kept its target prices for ZIJIN MINING's H-/ A-shares at $48/ RMB45, with both rated at Overweight. ZIJIN MINING continues to be JPMorgan's top pick in the basic materials sector. AASTOCKS Financial News Website: www.aastocks.com |
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