[ET Net News Agency, 8 January 2020] Goldman Sachs lifted its target price for Zijin
Mining Group (02899) to HK$4.8 from HK$3.5 and maintained its "buy" rating.
The research house revised earnings estimates for Zijin by +1% for 2019, +12% for 2020,
and +19% for 2021 to reflect updated on SHFE (Shanghai Futures Exchange) copper price,
recent new share issuance, and project updates.
Goldman expects SHFE copper price to improve by 5% to US$2.90/lb in 2020 and US$3.11/lb
in 2021. It maintained its 2020/21 gold price forecast of US$1,600/US$1,600. Under rising
copper/gold prices and volume growth from new projects, Goldman expects Zijin net profit
to increase to Rmb6,040mn in 2020E and Rmb8,439mn in 2021 from Rmb4,276mn in 2019. (KL)
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Super Quote | Detail Quote | Interactive Chart | Transaction | Related News | Related Securities | Company Information | Dividend Records | Short Sell
02899 ZIJIN MINING
Nominal 
17.020 +0.040 (+0.236%) Others
08/01/2020 17:31
{I-bank focus}Goldman lifts Zijin Mining (02899) to HK$4.8
| Remark: | Real time quote last updated: 25/04/2024 15:46 |
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