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2026-07-10 15:31:06 ZIJIN MINING (02899.HK) issued a positive profit alert for the interim period, forecasting 2Q core profit excluding non-recurring items of about RMB19.4 billion, up 5% QoQ and below the broker's expectation of RMB21.5 billion, JPMorgan released a research report stating. Core profit for 1H26 was expected to reach RMB37.9 billion, accounting for about 48% of the market's full-year forecast and slightly below the broker's expectation. ZIJIN GOLD INTL (02259.HK)'s interim positive profit alert indicated that 2Q profit was forecast to rise 67% YoY to about USD590 million, also below the broker's expectation of USD830 million. The broker attributed the weaker-than-expected results of ZIJIN MINING and ZIJIN GOLD INTL to waning gold prices, copper/ gold production target completion rates below 50%, and more evident cost inflation impact. The broker expected the short-term share price reaction to be mild to negative. It believed investor focus would remain on commodity price trends, US-Iran negotiations and interest rate decisions. The broker maintained Overweight ratings on both gold miners, with a TP of HKD50 for ZIJIN MINING and HKD170 for ZIJIN GOLD INTL, while continuing to list ZIJIN MINING as its sector top pick. ~ AASTOCKS Financial News Website: www.aastocks.com | |