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<Research> M Stanley: Zijin Gold International (02259.HK) 1Q Profit Solid, Rating Overweight
Recommend 9 Positive 17 Negative 9 |
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M Stanley published a research report stating that Zijin Gold International (02259.HK) delivered solid results for 1Q, with net profit of USD801 million, increasing from USD696 million in 4Q last year. The performance was below the banks expectations but above market consensus. The Overweight rating was maintained with a TP of HKD215. The report noted that gold production in 1Q was 13.46 tonnes (of which the Porgera project contributed 601 kilograms), down from 14.82 tonnes in 4Q last year. The bank believes the QoQ decline may be related to seasonal factors such as weather conditions. M Stanley added that 1Q all-in sustaining cost (AISC) was USD1,638 per ounce, higher than USD1,501 in FY2025, mainly due to increased royalties driven by rising gold prices, with cost escalation faster than the bank had expected. (hc/u) Auto-translated by AI This article was automatically translated by AI, the original language version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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