On June 8, Wanguo Gold Group (03939.HK) declined 8.06% in regular trading, trading at HKD 9.46/share, with trading volume of HKD 117 million.

Multiple factors weighed on the stock. UBS cut its target price from HKD 17.8 to HKD 17.3 on June 4, reflecting updated cost guidance for the Solomon Islands Gold Ridge mine, though partially offset by higher copper price assumptions. The bank maintained its Buy rating. On June 5, the company announced executive director Liu Zhichun resigned effective from the annual general meeting, with executive director Gao Jinzhu appointed as a replacement member of the remuneration committee.

The broader Diversified Metals and Mining sector also exhibited weakness, with CMOC down 4.98%, MMG down 5.11%, Jiaxin International Resources down 5.95%, Lygend Resources down 2.48%, and Xinxin Mining down 1.63%. The stock had already retreated approximately 39% over the prior three months, with selling pressure remaining elevated.

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