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<Research>Macquarie Elevates ZIJIN MINING (02899.HK) TP to $40 as Gold Prices Boost Earnings Forecasts
Recommend 7 Positive 15 Negative 6 |
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ZIJIN MINING (02899.HK)'s key copper mining project, Kamoa-Kakula, updated its copper output guidance for 2026/ 2027 to 380,000-420,000 tonnes/ 500,000-540,000 tonnes each, alleviating earlier concerns about production disruptions, Macquarie released a research report saying. The broker raised its 2025-2027 gold price forecasts by 2%/ 22%/ 35%, and copper price forecasts by 2%/ 13%/ 0%. Meanwhile, Macquarie lifted its earnings forecasts for ZIJIN MINING by 20%/ 61%/ 35% for the same period. Therefore, Macquarie elevated its target price for ZIJIN MINING by 75% to $40, equivalent to a projected 2026 PE ratio of 9.6x, with rating kept at Outperform. AASTOCKS Financial News Website: www.aastocks.com |
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