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<Research>DBS Initiates Coverage on ZIJIN GOLD INTL (02259.HK) w/ Rating Buy/ TP $137 as 'Pure Gold' Positioning Expected to Attract Capital Attention
Recommend 3 Positive 13 Negative 5 |
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ZIJIN GOLD INTL (02259.HK) closed at $120.6 on its debut on Tuesday (30 September), 68.5% higher than its listing price of $71.59. This morning (2 October), the stock opened 4.6% higher before rising, and once peaked at $139 during the intraday trading session, spiking 15.3%. It last printed at $138.6, up 15%, with a turnover of $1.621 billion. DBS Group Research issued a research report initiating coverage on ZIJIN GOLD INTL, with rating at Buy and a target price of $137, based on discounted cash flow valuation. The Company serves as an integration platform for overseas gold assets under Zijin Mining Group, and was listed in Hong Kong on 30 September, becoming one of significant global pure gold miners. ZIJIN GOLD INTL inherits the core overseas mines strategically acquired by its parent company over the past 20 years, with outstanding asset quality. With international gold prices expected to rise by 42%/ 9% in 2025/ 2026 each, the Company is poised to continuously attract capital attention due to its 'pure gold' positioning. AASTOCKS Financial News Website: www.aastocks.com |
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