Morgan Stanley initiates coverage on ZIJIN GOLD INTL with an "Overweight" rating and a target price of 175 yuan

AASTOCKS
2025.11.06 03:34

Morgan Stanley published a research report indicating that it has initiated coverage of ZIJIN GOLD INTL (02259.HK) with an "Overweight" rating and a target price of 175 yuan.

Morgan Stanley stated that with support from interest rate cuts, central banks, and ETFs buying gold, as well as potential increases in gold holdings by investors, gold prices are expected to rebound, likely reaching USD 4,500 per ounce in the second half of the year.

The report mentioned that ZIJIN GOLD INTL's average gold resource procurement cost is USD 61.3 per ounce, while the industry average from 2019 to 2024 is USD 92.9 per ounce. The company has gold projects in South America, Australia, Africa, and Central Asia, and its gold reserves and production ranked 9th and 11th globally in the mining industry last year

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