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<Research>M Stanley: ZIJIN MINING (02899.HK) TP $55 as 1Q Results In Line; Unit Costs Slip QoQ
Recommend 7 Positive 9 Negative 4 |
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ZIJIN MINING (02899.HK)'s 1Q26 net profit was RMB20.1 billion, benefiting from higher metal prices and output, Morgan Stanley issued a research report saying. Therefore, the broker rated ZIJIN MINING at Overweight, with an Attractive industry view and a target price of $55. Mine-produced gold output during the period reached 23.5 tons, up 23% YoY but down 4.5% QoQ, the report added. Notably, unit production costs for gold and copper declined 5.8% and 3.4% QoQ respectively. The broker believed that the cost savings may be stemmed from operational improvements, changes in sales mix and the 2.3% depreciation of USD against RMB in 1Q26. Auto-translated by AI This article was automatically translated by AI, the original language version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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