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<Research>M Stanley Initiates Coverage on ZIJIN GOLD INTL w/ Rating Overweight, TP HKD175
Recommend 12 Positive 36 Negative 9 |
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Morgan Stanley has released a research report initiating its coverage on ZIJIN GOLD INTL (02259.HK) with an Overweight rating and a target price of HKD175. The broker expects gold prices to rebound to USD4,500 per ounce by mid-2H25 with the support of interest rate cuts, gold purchases by central banks and ETFs, and potential investor accumulation of gold. The report also highlighted ZIJIN GOLD INTL's average gold resource procurement cost of USD61.3 per ounce, compared to the industry average of USD92.9 per ounce in 2019-24. ZIJIN GOLD INTL has gold projects in South America, Australia, Africa, and Central Asia. Its gold reserves and production ranked 9th and 11th respectively in the global mining industry last year. AAStocks Financial News |
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