[ET Net News Agency, 5 July 2024] UBS initiates coverage of Zhaojin Mining (01818) with
a target price of HKD17.9 and a "buy" rating.
The research house said given the bullish gold price outlook and expansion of the new
Haiyu and Abujar mines, it expects Zhaojin's earnings to reach RMB1.2bn/1.9bn/3bn in
2024/25/26, an implied 85% CAGR and 11%/11%/29% above consensus estimates. (rc)