研报掘金丨西部证券:赤峰黄金业绩符合预期,维持“买入”评级

格隆汇
18 Jul

西部证券研报指出,赤峰黄金预计2025H1实现归母净利润10.80-11.30亿元,同比增长52.01%-59.04%;金价上涨+成本费用管控得当,2025H1业绩符合预期。2020-2024年,公司黄金产量分别为4.59吨、8.10吨、13.57吨、14.35吨、15.16吨,实现连年增长,其中2021-2023年(2024年部分公司的产销量数据尚未披露),公司的黄金产量在中国前五大黄金生产商中增长最快,与大多数主要黄金矿山企业相比,公司拥有更广阔的海外业务覆盖范围。自2024年第四季度起,公司并已在所有矿山全面加大勘探力度,并启动了制作全公司探矿增储三年计划,将之作为公司重点工作,旨在加速提高资源量的级别和储量水平,同时加大风险勘探投入,充分挖掘公司矿区的潜在资源。维持“买入”评级。

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