On August 18, ZIJIN GOLD INTL rose 3.26% in regular trading, trading at HK$138.8/share, with turnover of HK$125 million. The stock continues its upward momentum driven by a confluence of strong interim results, elevated gold prices, and a major broker upgrade.

The company reported H1 revenue of US$3.99 billion, up approximately 100% year-over-year, with profit attributable to owners surging 178.83% to US$1.45 billion, or US$0.54 per share. Controlled mine gold output rose approximately 37% year-over-year, with an average realized gold price of US$4,643 per ounce. The company also declared its first-ever interim dividend of HK$1.50 per share, payable on September 24.

Additionally, Bank of America Securities raised its target price by 7% from HK$140 to HK$150, reiterating a Buy rating. The broker lifted its full-year net profit forecast 3% to US$3.057 billion, citing lower unit cost assumptions. All-in sustaining costs rose 7% year-over-year to US$1,678 per ounce, primarily due to royalty increases linked to higher gold prices, though management noted underlying costs excluding royalties declined.

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