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【Brokerage Focus】The price of gold at CICC is over $3,000 per ounce this year.
Gold News | CICC expects gold prices to rise this year, with each ton of mined gold showing increased gross profit. CICC believes that gold prices may maintain an upward trend and break through $3,000 per ounce this year, and it anticipates that gold priced in RMB will increase more than gold priced in USD. CICC indicates that the new president of the USA, Trump, advocates for highly inflationary policies. Under the USA's encouragement to reshape domestic supply chains, even if the Federal Reserve turns hawkish, it is unlikely to significantly raise policy interest rates to curb inflation. The bank expects that the current historically high real interest rates in the USA will decline. Against this backdrop, Europe
[Brokerage Focus] Jianyin International maintains a "Buy" rating on Zijin Mining Group (02899) but points out that its performance is slightly below expectations.
King Wo Financial News | According to a research report by Jianyin International, preliminary performance for 2024 shows that Zijin Mining Group (02899) is expected to achieve a Net income growth of 51.5% year-on-year to 32 billion yuan, which is approximately 5% lower than the bank's estimate of 33.7 billion yuan. This may be due to the company's Copper and Gold production being slightly lower than expected, down 4% and 1% respectively against expectations and its own guidance. However, the company's mines produced 1.07 million tons of Copper and 73 tons of Gold, representing year-on-year increases of 6% and 8%, respectively, and despite moderate rises in metal prices and production costs, the overall performance remains satisfactory. In terms of production guidance, Zijin Mining Group for 2025's
Gold Rally Gains Traction, Next Stop US$2,900?
Hong Kong stocks Concept tracking | International gold prices hit new highs! The prices of solid gold jewelry are rising as well. Institutions: There is still room for growth in the medium to long term (with related stocks attached).
The relevant analysis indicates that the main reasons for the rise in Gold include the decrease in USA CPI data, the increase in M2 MMF supply, the uncertainty of Trump's policies, expectations for interest rate cuts by the Federal Reserve, technical support, and Global economic uncertainty.
Citigroup: Maintain Zijin Mining Group 'Buy' rating, Target Price 21.9 Hong Kong dollars.
Citi released a research report stating that it maintains the "Buy" rating for Zijin Mining Group (02899) and expects Zijin to lower its guidance for copper production this year, as Congo’s Kamoa has also reduced its production guidance for this year, with a Target Price of HKD 21.9. The bank anticipates that the lithium production guidance will decline due to sluggish lithium prices, aligning with market consensus. The bank estimates that the company's gold and copper production will increase year-on-year by 16.4% and 7.5%, respectively. The report indicates that Zijin Mining Group announced its preliminary performance for last year, with Net income rising by 51.5% year-on-year to RMB 32 billion, slightly below the bank's expectations. The Net income from recurring Business increased by 45.3% year-on-year to RMB 31.4 billion.
Morgan Stanley: Maintains "Shareholding" rating for Zijin Mining Group with a Target Price of 22.9 Hong Kong dollars.
Morgan Stanley released a research report stating that Zijin Mining Group (02899) has been given a "Shareholding" rating with a Target Price set at 22.9 Hong Kong dollars. The report mentioned that Zijin expects a 16% year-on-year increase in Gold production in 2025, and a 7.5% year-on-year increase in Copper production. Compared to the company's previous Copper production target, the new guidance reflects a decline of 5.7%. The report states that Zijin Mining's preliminary Net income for the 2024 fiscal year is approximately 32 billion yuan, which is 51.5% higher than the bank's forecast. Excluding one-time expenses, the core Net income is 31.4 billion yuan, a year-on-year increase of 45.3%. Given that last year's Gold and Copper production basically met the bank's expectations,
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