G Sachs Slightly Cuts ZIJIN TP to HKD51; Valuation Attractive, Rating Maintained at Buy
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G Sachs has slightly reduced the target price for Zijin Mining's H shares from HKD52 to HKD51 while maintaining a Buy rating. The company reported a recurring net profit of RMB18.9 billion for Q1 2026, an 88% increase YoY, aligning with expectations. Despite raising unit cost forecasts due to rising energy prices, G Sachs anticipates strong growth for Zijin in 2026, projecting a 53% increase in full-year recurring profit to RMB77.9 billion.
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