Zijin Mining Group Company Limited

SEHK:2899 Stock Report

Market Cap: HK$443.1b

Zijin Mining Group Valuation

Is 2899 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of 2899 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 2899 (HK$15.48) is trading below our estimate of fair value (HK$35.93)

Significantly Below Fair Value: 2899 is trading below fair value by more than 20%.


Key Valuation Metric

Which metric is best to use when looking at relative valuation for 2899?

Key metric: As 2899 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 2899. This is calculated by dividing 2899's market cap by their current earnings.
What is 2899's PE Ratio?
PE Ratio13.1x
EarningsCN¥29.31b
Market CapCN¥412.85b

Price to Earnings Ratio vs Peers

How does 2899's PE Ratio compare to its peers?

The above table shows the PE ratio for 2899 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average13.1x
1818 Zhaojin Mining Industry
28.9x35.0%HK$37.7b
3993 CMOC Group
8.2x6.9%HK$161.4b
1378 China Hongqiao Group
5.9x5.6%HK$118.3b
3330 Lingbao Gold Group
9.6xn/aHK$3.5b
2899 Zijin Mining Group
13.1x16.3%HK$443.1b

Price-To-Earnings vs Peers: 2899 is good value based on its Price-To-Earnings Ratio (13.1x) compared to the peer average (13.1x).


Price to Earnings Ratio vs Industry

How does 2899's PE Ratio compare vs other companies in the HK Metals and Mining Industry?

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
6890 KangLi International Holdings
1.7xn/aUS$30.02m
No more companies available in this PE range
2899 13.1xIndustry Avg. 9.9xNo. of Companies7PE01020304050+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: 2899 is expensive based on its Price-To-Earnings Ratio (13.1x) compared to the Hong Kong Metals and Mining industry average (9.9x).


Price to Earnings Ratio vs Fair Ratio

What is 2899's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

2899 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio13.1x
Fair PE Ratio14.6x

Price-To-Earnings vs Fair Ratio: 2899 is good value based on its Price-To-Earnings Ratio (13.1x) compared to the estimated Fair Price-To-Earnings Ratio (14.6x).


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst 2899 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentHK$15.48
HK$20.97
+35.5%
6.3%HK$24.06HK$18.69n/a15
Dec ’25HK$14.94
HK$21.05
+40.9%
6.3%HK$24.16HK$18.76n/a15
Nov ’25HK$16.92
HK$21.30
+25.9%
6.2%HK$24.50HK$19.03n/a15
Oct ’25HK$17.66
HK$21.13
+19.6%
5.7%HK$22.87HK$17.91n/a15
Sep ’25HK$15.82
HK$21.03
+33.0%
5.9%HK$22.71HK$17.78n/a14
Aug ’25HK$15.94
HK$20.85
+30.8%
5.2%HK$22.38HK$19.00n/a13
Jul ’25HK$16.48
HK$20.42
+23.9%
7.3%HK$22.36HK$17.78n/a13
Jun ’25HK$16.54
HK$19.81
+19.8%
8.2%HK$22.31HK$16.24n/a13
May ’25HK$17.30
HK$19.41
+12.2%
7.2%HK$21.89HK$16.26n/a11
Apr ’25HK$15.62
HK$17.90
+14.6%
7.8%HK$20.46HK$15.69n/a14
Mar ’25HK$12.84
HK$15.93
+24.1%
7.5%HK$18.20HK$13.70n/a14
Feb ’25HK$11.78
HK$16.03
+36.1%
7.6%HK$18.31HK$13.79n/a14
Jan ’25HK$12.72
HK$16.12
+26.7%
7.9%HK$18.39HK$13.85n/a14
Dec ’24HK$12.14
HK$16.09
+32.6%
8.6%HK$18.67HK$13.77HK$14.9414
Nov ’24HK$11.94
HK$15.88
+33.0%
8.8%HK$18.25HK$13.47HK$16.9213
Oct ’24HK$11.98
HK$16.04
+33.9%
7.8%HK$18.12HK$13.48HK$17.6613
Sep ’24HK$12.34
HK$16.02
+29.8%
7.2%HK$18.31HK$13.62HK$15.8214
Aug ’24HK$13.32
HK$16.03
+20.3%
7.4%HK$18.98HK$13.68HK$15.9414
Jul ’24HK$11.50
HK$15.91
+38.4%
7.2%HK$18.04HK$13.68HK$16.4814
Jun ’24HK$10.84
HK$15.54
+43.3%
16.6%HK$18.40HK$6.83HK$16.5415
May ’24HK$13.22
HK$15.79
+19.5%
17.1%HK$18.88HK$7.01HK$17.3014
Apr ’24HK$13.12
HK$15.37
+17.1%
16.9%HK$18.99HK$7.05HK$15.6213
Mar ’24HK$12.54
HK$14.42
+15.0%
18.4%HK$18.86HK$7.34HK$12.8414
Feb ’24HK$13.40
HK$14.44
+7.7%
17.9%HK$17.70HK$7.48HK$11.7814
Jan ’24HK$10.58
HK$13.46
+27.2%
22.6%HK$17.07HK$7.21HK$12.7214
Dec ’23HK$10.60
HK$13.17
+24.3%
22.4%HK$16.72HK$7.06HK$12.1414

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.


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