BOCI Securities: Raise Zhaojin Mining's target price to HKD 45.5; rising gold prices will drive rapid growth in this year's performance

MaticHoleFiller · 2026-04-09T04:25:32+00:00

BOC International released a research report stating that Zhaojin Mining's profit last year increased by 1.49 times year-on-year to 3.6 billion yuan, in line with expectations, mainly benefiting from rising gold prices and increased gold production. The "Buy" rating is reaffirmed, with the target price raised to HKD 45.5. It is expected that this year's earnings per share will increase by 64% year-on-year, with future profits potentially doubling.

MaticHoleFiller

2026-04-09 04:25:32

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BOCI International released a research report saying that Zijin Mining Industry (01818) last year’s profit increased 1.49 times year over year to RMB 3.6 billion, in line with expectations. The sharp rise in gold prices and steady growth in gold production are the company’s main growth drivers. The firm reiterated the company’s “Buy” rating and raised the target price from HKD 44.78 to HKD 45.5.

The firm said that looking ahead, Zijin Mining Industry will benefit from the upward trend in gold prices. Its earnings per share forecast for this year is expected to rise 64% year over year. It also expects that as its key project, the Haiyu gold mine, completes, its 2028 profit could double.

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