Why GT Gold Holdings' (HKG:8299) Healthy Earnings Aren’t As Good As They Seem
Jul 31
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Hong Kong (HSI) Gold Industry Analysis
UpdatedAug 19, 2025
DataAggregated Company Financials
Companies9
- 7D2.5%
- 3M32.2%
- 1Y50.7%
- YTDn/a
The Gold industry is up 3.6% in the last week, with Zijin Mining Group up 2.7%. Meanwhile, GT Gold Holdings actually underperformed within the industry, shrinking 8.2% in the last week. In the last 12 months, the industry was up 58%. As for the next few years, earnings are expected to grow by 15% per annum.
Industry Valuation and Performance
Has the Hong Kong Gold Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Tue, 19 Aug 2025 | HK$712.2b | HK$365.9b | HK$42.1b | 22x | 16.9x | 1.9x |
| Thu, 17 Jul 2025 | HK$656.2b | HK$367.3b | HK$42.3b | 23.8x | 15.5x | 1.8x |
| Sat, 14 Jun 2025 | HK$663.2b | HK$367.2b | HK$42.3b | 37.6x | 15.7x | 1.8x |
| Mon, 12 May 2025 | HK$582.3b | HK$361.2b | HK$41.6b | 21.4x | 14x | 1.6x |
| Wed, 09 Apr 2025 | HK$502.3b | HK$350.3b | HK$36.6b | 14.8x | 13.7x | 1.4x |
| Fri, 07 Mar 2025 | HK$516.4b | HK$344.4b | HK$33.1b | 17.8x | 15.6x | 1.5x |
| Sun, 02 Feb 2025 | HK$498.2b | HK$345.6b | HK$33.5b | 14.8x | 14.9x | 1.4x |
| Tue, 31 Dec 2024 | HK$470.3b | HK$342.0b | HK$33.1b | 15.7x | 14.2x | 1.4x |
| Thu, 28 Nov 2024 | HK$484.7b | HK$345.7b | HK$33.5b | 14.5x | 14.5x | 1.4x |
| Sat, 26 Oct 2024 | HK$543.6b | HK$349.9b | HK$34.0b | 14.8x | 16x | 1.6x |
| Mon, 23 Sep 2024 | HK$510.3b | HK$348.0b | HK$30.4b | 15.3x | 16.8x | 1.5x |
| Wed, 21 Aug 2024 | HK$512.1b | HK$343.6b | HK$25.4b | 17.8x | 20.2x | 1.5x |
| Fri, 19 Jul 2024 | HK$573.4b | HK$339.0b | HK$25.0b | 19.1x | 22.9x | 1.7x |
| Sun, 16 Jun 2024 | HK$525.8b | HK$338.8b | HK$25.0b | 18.6x | 21x | 1.6x |
| Tue, 14 May 2024 | HK$563.5b | HK$339.8b | HK$25.1b | 23.6x | 22.5x | 1.7x |
| Thu, 11 Apr 2024 | HK$555.2b | HK$340.6b | HK$24.1b | 25.3x | 23x | 1.6x |
| Sat, 09 Mar 2024 | HK$455.7b | HK$341.7b | HK$22.1b | 30.9x | 20.6x | 1.3x |
| Mon, 05 Feb 2024 | HK$368.5b | HK$342.9b | HK$19.1b | 25.6x | 19.3x | 1.1x |
| Wed, 03 Jan 2024 | HK$395.1b | HK$345.2b | HK$19.2b | 30.6x | 20.5x | 1.1x |
| Fri, 01 Dec 2023 | HK$383.3b | HK$344.6b | HK$19.2b | 37.3x | 20x | 1.1x |
| Sun, 29 Oct 2023 | HK$372.1b | HK$332.8b | HK$16.6b | 27.3x | 22.4x | 1.1x |
| Tue, 26 Sep 2023 | HK$395.9b | HK$333.0b | HK$16.6b | 22.6x | 23.8x | 1.2x |
| Thu, 24 Aug 2023 | HK$376.6b | HK$324.0b | HK$18.6b | 22.5x | 20.3x | 1.2x |
| Sat, 22 Jul 2023 | HK$396.1b | HK$328.1b | HK$18.9b | 15.9x | 20.9x | 1.2x |
| Mon, 19 Jun 2023 | HK$382.9b | HK$330.7b | HK$19.1b | 15.3x | 20.1x | 1.2x |
| Wed, 17 May 2023 | HK$371.1b | HK$339.0b | HK$19.6b | 18.8x | 18.9x | 1.1x |
| Fri, 14 Apr 2023 | HK$445.4b | HK$332.1b | HK$20.7b | 16.3x | 21.5x | 1.3x |
| Sun, 12 Mar 2023 | HK$366.0b | HK$314.3b | HK$21.4b | 13.1x | 17.1x | 1.2x |
| Tue, 07 Feb 2023 | HK$375.3b | HK$320.0b | HK$21.8b | 13.4x | 17.2x | 1.2x |
| Thu, 05 Jan 2023 | HK$338.0b | HK$314.3b | HK$21.4b | 12.4x | 15.8x | 1.1x |
| Sat, 03 Dec 2022 | HK$323.5b | HK$305.6b | HK$20.7b | 12.1x | 15.6x | 1.1x |
| Mon, 31 Oct 2022 | HK$251.2b | HK$299.5b | HK$20.2b | 9.3x | 12.4x | 0.8x |
| Wed, 28 Sep 2022 | HK$243.9b | HK$289.9b | HK$21.1b | 10.1x | 11.5x | 0.8x |
| Fri, 26 Aug 2022 | HK$295.8b | HK$301.7b | HK$22.1b | 10.1x | 13.4x | 1x |
Price to Earnings Ratio
13.4x
Current Industry PE
- Investors are relatively neutral on the Hong Kong Gold industry at the moment, indicating that they anticipate long term growth rates to remain steady.
- The industry is trading close to its 3-year average PE ratio of 17.8x.
- The 3-year average PS ratio of 1.3x is lower than the industry's current PS ratio of 2.0x.
Past Earnings Growth
- The earnings for companies in the Gold industry have grown 24% per year over the last three years.
- Revenues for these companies have grown 6.7% per year.
- This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.
Industry Comparison
How does Hong Kong Gold compare with similar industries?
| HK Market | 2.01% | |
| Materials | 3.76% | |
| Metals and Mining | 4.07% | |
| Gold | 2.50% | |
| Copper | 10.77% | |
| Diversified Metals and Mining | 6.51% | |
| Aluminum | 4.65% | |
| Silver | 1.11% | |
| Steel | -1.84% | |
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| 2899 Zijin Mining Group | HK$23.48 | 2.7% +HK$16.4b | 46.2% | PE15.9x | |
| 1818 Zhaojin Mining Industry | HK$21.86 | 1.5% +HK$1.1b | 59.3% | PE43.9x | |
| 3330 Lingbao Gold Group | HK$11.50 | 1.3% +HK$193.0m | 235.3% | PE19.5x | |
| 340 Tongguan Gold Group | HK$1.97 | 2.1% +HK$175.9m | 239.7% | PE41x | |
| 1712 Dragon Mining | HK$4.94 | 12.8% +HK$88.5m | 185.5% | PE11.9x |
