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Goldman Sachs: Maintains a 'buy' rating for Zijin Mining Group with a target price of HK$21.5.
Goldman Sachs released a research report stating that Zijin Mining Group (02899) is one of the few mining companies that can benefit from the increase in production and the rise in commodity prices. With the rise in the price of copper, the bank expects Zijin's regular net income to increase from 22.4 billion RMB in 2023 to 41.4 billion RMB in 2026, with a compound annual growth rate of 23%. The bank maintains a "buy" rating for Zijin H shares (listed in Hong Kong) and a target price of HKD 21.5, believing that its current valuation is attractive. The bank believes that continued execution of new project expansions and the rise in copper prices will be catalysts for growth. Zijin management mentioned the company...
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