BOFA Securities: Maintains "buy" rating on ZHAOJIN MINING (01818) as gold production gradually recovers and prices remain high, with valuation not high.
Bank of America Securities maintains a "buy" rating on Zhaojin Mining Industry, citing the gradual recovery of gold production, the continuous spot gold price above $4,700 per ounce, and the not high valuation; target price of HK $44.
Bank of America Securities released a research report stating that ZHAOJIN MINING (01818) achieved a 47% year-on-year increase in revenue to 4.46 billion yuan in the first quarter of 2026, with post-tax net profit increasing by 80% year-on-year to 1.19 billion yuan. The overall performance roughly met the bank's expectations. Bank of America Securities maintained a "buy" rating on ZHAOJIN MINING, citing the gradual recovery of gold production, the continued spot gold price above $4,700 per ounce, and the not high valuation; Target price of HK$44.
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