智通财经APP获悉，近日，摩根士丹利发表报告称，山东黄金(01787)的Namdini金矿已于去年试产，预期该项目将于今年贡献产量。此外，南非Twin Hills金矿项目料于今年底产出首批黄金。该行预计有关因素均推动山东黄金今年产量强劲增长37%。该行对山东黄金评级“增持”，目标价22.2港元。
该行指，山东黄金发盈喜，预计去年未经审计的净利润介乎27亿至32亿元人民币，同比增长16%至37%，低于该行预期的33亿元人民币；撇除一次性项目后，核心净利润同步预计升23%至46%，相对于该行预计升44%。另意味着去年第四季净利润介乎6.34亿至11亿元人民币，相对于首三季净利润为6.82亿至7亿元人民币。鉴于去年第四季金价上涨(按季升8.3%至每安士2,680美元)，该行预计净利润将位于公司指引范围的上限。
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