On August 21, ZIJIN GOLD INTL rose 3.03% in regular trading, trading at HK$153.8/share, with turnover of HK$77.30 million. The gain was driven by Citi initiating coverage with a Buy rating and a target price of HK$178, alongside strong interim results.

Citi expressed confidence in the company's gold production growth leading peers, forecasting equity gold output compound annual growth rate of 17% from 2025 to 2028, and projecting gold prices could reach US$5,000/oz within 6 to 12 months. Bank of America Securities also raised its target price to HK$150 and reiterated a Buy rating, lifting full-year net profit estimates by 3% to US$3.057 billion on lower unit cost assumptions.

The company reported H1 revenue of US$3.987 billion, up 100% year-over-year, with net profit attributable to shareholders surging 179% to US$1.451 billion. Mine-produced gold reached approximately 27.3 tonnes, with controlled mine output up 37%. The board declared its first interim dividend since listing at HK$1.50 per share.

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