"Large Banks" Huayan raises Zijin Mining's target price, expects high copper and gold prices
HSBC's research report raised the target prices for Zijin Mining's H shares and A shares, from HKD 43 to HKD 58 and from RMB 39.2 to RMB 51.2, respectively, while also raising the target price for Zijin Gold International from HKD 178 to HKD 269, maintaining a "Buy" rating. It is expected that copper prices will remain high in 2026, with gold prices supported by a weaker US dollar and geopolitical uncertainties. After acquiring Joint Gold, Zijin Gold International is expected to achieve an average annual compound growth rate of approximately 37% in gold production from 2025 to 2027
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