"Major Banks" Citigroup: Zijin Mining included in the Pan-Asia Focus List, optimistic about gold, copper, and lithium production growth, target price 51.8 yuan
Citi published a research report stating that, given the bank's expectation of significant production growth in gold, copper, and lithium over the next few years, which relies on the management's strong track record in mergers and acquisitions, the bank has included Zijin Mining (02899.HK) in its Pan-Asia focus list. The escalating geopolitical tensions and central bank gold purchases may keep gold prices high in the short term, while the structural bull market pattern for copper remains unchanged.
The bank set a target price of HKD 51.8 for Zijin Mining and a "Buy" rating. (ec/)
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