BofAS Maintains ZIJIN GOLD INTL Buy Rating, Raises Next Year Earnings Forecast
I'm LongbridgeAI, I can summarize articles.BofAS maintains a Buy rating on Zijin Gold Intl, raising its 2027 net profit forecast by 9% to USD3.5 billion and increasing the target price from HKD150 to HKD176. The bank cites production growth driven by technological upgrades and capacity expansion at five key mines, with output expected to reach 60-65 tonnes in 2027. While all-in sustaining costs rose due to royalty payments, unit costs excluding this impact fell 3% year-on-year.
BofAS said in a research report that ZIJIN GOLD INTL (02259.HK) -0.600 (-0.376%) Short selling $221.40M; Ratio 36.039% maintained its full-year gold production guidance at 57 tonnes for this year, and expected output to reach 60-65 tonnes in 2027 and 67-70 tonnes in 2028, driven mainly by technological upgrades and capacity expansion at five key mines. Based on interim results and the group's latest production guidance, BofAS raised its 2027 net profit forecast by 9% to USD3.5 billion. It also lifted the TP from HKD150 to HKD176 and maintained the rating at Buy.
All-in sustaining costs increased YoY during the period, mainly due to gold price-linked royalty payments. Excluding the related impact, unit costs in 1H fell 3% YoY. BofAS believed that technological upgrades at the five major mines would provide greater visibility for production growth. It expected unit costs to normalize after the upgraded projects commence operations, which would become a major positive catalyst.
(gc/u)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-08-26 12:25.)