Update shared on29 Sep 2025
Fair value Increased 2.22%The consensus price target for Zijin Mining Group has been revised upward, driven primarily by higher forecast revenue growth and a notable increase in the expected future P/E multiple, resulting in a new target of HK$29.36.
What's in the News
- Zijin Mining commenced production at the Tres Quebradas lithium project in Argentina, targeting 20,000 tpa LCE in Phase 1, with plans to expand capacity to 60,000–80,000 tpa; over USD 600 million invested to date, reflecting a major push into lithium.
- Completed acquisition of an 84% equity interest in Anhui Jinsha Molybdenum, securing full control of the Shapinggou Molybdenum Mine, a globally significant deposit; plans in place for large-scale underground mining and collaboration on a new molybdenum smelting project.
- Announced an interim dividend of RMB 2.2 per 10 shares for H1 2025.
- Issued H1 2025 earnings guidance, estimating net profit attributable to owners at RMB 23.2 billion, up 54% y/y, and net profit after non-recurring items at RMB 21.5 billion, up 40% y/y.
- Scheduled board meetings to review and publish 2025 interim and Q3 results and to consider dividend payments.
Valuation Changes
Summary of Valuation Changes for Zijin Mining Group
- The Consensus Analyst Price Target has risen slightly from HK$28.72 to HK$29.36.
- The Future P/E for Zijin Mining Group has significantly risen from 14.96x to 16.51x.
- The Consensus Revenue Growth forecasts for Zijin Mining Group has risen slightly from 8.4% per annum to 8.8% per annum.
Disclaimer
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