Movement Alert|ZIJIN GOLD INTL Rises 9.08% in Regular Trading, Citi Initiates Buy Rating with HK$178 Target Amid Gold Sector Rally

Market Focus
Aug 20

On August 20, ZIJIN GOLD INTL rose 9.08% in regular trading, trading at HK$151.0/share, with turnover of HK$576 million.

On the news front, Citi recently initiated coverage on the company with a Buy rating and a target price of HK$178, citing industry-leading gold production growth with a projected equity gold output CAGR of 17% from 2025 to 2028, and forecasting gold prices reaching $5,000/oz over the next 6 to 12 months. Previously, Bank of America Securities also raised its target price to HK$150 and reiterated its Buy rating.

The upgrade follows strong H1 results disclosed on August 14: revenue of $3.99 billion, up 100% year-over-year; profit attributable to owners of $1.45 billion, surging 179%; and the company's first-ever interim dividend of HK$1.50 per share. Controlled mine output grew approximately 37% with an average realized gold price of $4,643/oz.

Within the Gold sector, the broader group rallied sharply. Among peers, SD GOLD rose 9.38%, LINGBAO GOLD rose 10.44%, ZHAOJIN MINING rose 9.41%, CHINAGOLDINTL rose 8.25%, and CHIFENG GOLD rose 7.16%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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