News Sharing
For sharing news, please enter the email address of you and the receiver, then press SEND button.*Mandatory Fields
Receiver*
Enter email addresses, separated by semicolon (;). E.g. a@a.com;b@b.com
Your email address*
 Content Sharing
<Research>BofAS: ZIJIN MINING 1Q24 Results in Line; Strong Copper/ Gold Price Momentum Expected to Continue
ZIJIN MINING (02899.HK)'s 1Q24 results were in line with expectations, BofA Securities issued a research report saying. Net profit after tax amounted to RMB6.3 billion, up 15% ...
Reset
Send
The window will close in 5 seconds
<Research>BofAS: ZIJIN MINING 1Q24 Results in Line; Strong Copper/ Gold Price Momentum Expected to Continue
Close
Recommend
3
Positive
12
Negative
3
 
SHORT SELL
 
STOCK INFO

ZIJIN MINING (02899.HK)  -0.180 (-1.033%)    Short selling $46.81M; Ratio 9.860%   's 1Q24 results were in line with expectations, BofA Securities issued a research report saying. Net profit after tax amounted to RMB6.3 billion, up 15% YoY and up 26% QoQ, in line with the full-year forecasts of BofA Securities/ the market of 22%/ 23%, respectively.

Revenue was RMB75 billion, down 0.2% YoY, and up 9% QoQ. Overall gross profit was RMB11.2 billion, up 6% YoY, and up 3% QoQ.

Looking ahead, BofA Securities expected spot copper and gold prices to increase by 14% from their average prices in 1Q24, and believed that ZIJIN MINING's strong earnings momentum will continue in 2Q24.

Copper/ gold prices will hike by 1% each, leading to a 1.1%/ 0.7% increase in ZIJIN MINING's net profit after tax for 2024, according to BofA Securities' forecast model. BofA Securities kept rating at Buy on ZIJIN MINING, with a target price of $21.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-05-03 16:25.)

AAStocks Financial News
Copyright(C) AASTOCKS.com Limited 2000. All rights reserved.
Disclaimer: AASTOCKS.com Ltd, HKEx Information Services Limited, its holding companies and/or any subsidiaries of such holding companies endeavour to ensure the accuracy and reliability of the Information provided but do not guarantee its accuracy or reliability and accept no liability (whether in tort or contract or otherwise) for any loss or damage arising from any inaccuracies or omissions.