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<Research>G Sachs Cuts ZIJIN MINING (02899.HK) TP to $51 as 1Q Results In Line
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ZIJIN MINING (02899.HK)'s 1Q26 results were in line with expectations, with strong sales volume growth, Goldman Sachs issued a research report saying. Recurring net profit for 1Q26 was RMB18.9 billion, up 88% YoY, in line with market consensus. Therefore, the broker kept rating at Buy, and expected the Company to sustain strong growth momentum, benefiting from higher gold and copper prices, coupled with 6-12% growth in output. Recurring profit is predicted to increase by 53% to RMB77.9 billion in 2026. Due to increased unit mining costs on higher energy prices, Goldman Sachs lowered its 2026-2027 earnings forecasts for ZIJIN MINING by 1-3%, and cut its target price to $51. The broker believed that the current valuation is attractive, with implied copper price significantly below spot price levels. 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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