Movement Alert|ZIJIN MINING Falls 3.15% in Regular Trading, Sector Weakness and Profit-Taking Weigh on Shares

Market Focus
Aug 19

On August 19, ZIJIN MINING fell 3.15% in regular trading, trading at 34.4 HKD/share, with turnover of HKD 924 million.

On the news front, the company disclosed strong mid-term results on August 16, reporting gold production of approximately 27.3 tonnes for the first half, up 44% year-over-year, with an average realized gold price of USD 4,643 per ounce, up 51%. The stock had already risen 3.05% on August 17 to digest the positive earnings. Today, the Diversified Metals and Mining sector came under broad pressure, with CMOC falling 3.92%, WANGUO GOLD GP down 2.38%, and MMG declining 1.47%. Additionally, JPMorgan slightly reduced its H-share long position by 0.20% to 14.10%, suggesting concentrated profit-taking among short-term holders following the post-earnings rally, compounded by sector-wide rotation pressure.

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