
BofAS Maintains Buy on Zhaojin Mining on Gradual Gold Output Recovery and Elevated Prices; Valuation Not Demanding

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BofAS has maintained a Buy rating on Zhaojin Miningfollowing a report that highlights a 47% year-on-year revenue increase to RMB4.46 billion in Q1 2026, and an 80% rise in net profit after tax to RMB1.19 billion, despite a 21% decline quarter-on-quarter. The firm cites a gradual recovery in gold production and elevated gold prices above USD4,700 per ounce as key factors, with a target price set at HKD44.
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