OCBC: Profit growth of Zijin Mining is expected to continue

Analysts from DBS Group Research department stated in a report that with the increase in sales volume and average selling price of products, Zijin Mining's profit growth in the first quarter may continue. They expect that against the backdrop of rising metal prices, this Chinese miner will once again achieve record quarterly operating performance. They noted that although fluctuations in precious metal prices may put pressure on the stock price in the short term, the company's stock buyback plan may provide support. DBS Group maintains its 2026 gold and copper price forecasts at $4,800 per ounce and $11,000 per ton, respectively. DBS Group maintains a buy rating on the stock with a target price of HK$55 for H shares and RMB 51 for A shares. H shares closed at HK$32.52, while A shares closed at RMB 30.58.