Citi Raises ZHAOJIN MINING TP to HKD41.4, Reiterates Buy
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Citi raised ZHAOJIN MINING's target price to HKD41.4 and reiterated a Buy rating, citing strong production growth despite short-term market concerns. The broker increased FY2026 and FY2027 earnings forecasts by 14% and 54%, respectively, driven by higher gold price expectations. While cautious on near-term gold outlooks, Citi anticipates macro headwinds will ease, forecasting average gold prices of USD4,775/oz in 2026 and USD5,000/oz in 2027.
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