On August 17, ZIJIN MINING rose 3.05% in regular trading, trading at HK$35.86/share, with turnover of HK$651 million.
On the news front, the company disclosed interim results on August 16 showing significant operational improvement. Gold production reached approximately 27.3 tonnes in the first half, up 44% year-over-year, while the average realized gold price was US$4,643 per ounce, a 51% increase. The company also declared its first-ever interim dividend of HK$1.50 per share.
On the institutional front, Morgan Stanley recently raised its H-share target price to HK$61, designating ZIJIN MINING as its sector top pick with an Overweight rating, citing industry-leading production growth across copper, gold, and lithium. JPMorgan also maintains the stock as its top pick, with its H-share long position rising to 14.01%.
Within the Diversified Metals and Mining sector, stocks rallied broadly. MMG gained 7.9%, CMOC rose 4.41%, and WANGUO GOLD GP advanced 3.97%.
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