Zijin Mining's Mine Acquisition Looks Attractive to Citi -- Market Talk
Dow Jones
Jun 30
0453 GMT - Zijin Mining's US$1.2 billion purchase of a gold mine in Kazakhstan should help boost the Chinese miner's production scale, says Citi's Jack Shang. He considers the deal attractive, given the implied price-to-earnings ratio of under 6X and the asset's potential resources upside. However, Zijin's earnings, which are linked to gold prices, could be pressured in the near term by an improvement in the macroeconomic environment stemming from easing U.S.-China trade tensions. The bank maintains its buy rating and target price of HK$24.40. Shares are 1.5% lower at HK$20.20. (megan.cheah@wsj.com)
(END) Dow Jones Newswires
June 30, 2025 00:53 ET (04:53 GMT)
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