Movement Alert|Zijin Gold International Rises 4.52% in Regular Trading, Gold Sector Rebounds from Oversold Levels as Multiple Brokerages Issue Buy Ratings

Market Focus
Jul 02

On July 2, Zijin Gold International rose 4.52% in regular trading, trading at 94.1 HKD/share, with turnover of approximately 88.54 million HKD. The broader gold sector staged a broad-based rebound, with China Gold International up 8.9%, Lingbao Gold up 8.62%, and SD Gold up 6.17%.

On the news front, after spot gold broke below the $4,000 level and gold stocks suffered consecutive sharp declines, sector valuations had fallen to historical lows. Zijin Gold International touched a 52-week low of 84.2 HKD on July 1. On the institutional side, CITIC Construction Investment recently initiated coverage with a Buy rating, citing the company's dual-engine growth via organic expansion and acquisitions across nine operating gold mines spanning South America, Central Asia, Oceania, and Africa, with production projected to reach 59.2 tonnes in the current year. Pacific Securities also initiated coverage with a Buy rating, forecasting attributable net profits of USD 3.33 billion, 4.27 billion, and 5.36 billion for the next three fiscal years, corresponding to PE multiples of 10.1x, 7.9x, and 6.3x respectively.

(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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