finalfight1| Zhaojin Mining: Overseas acquisitions and rising gold prices, Goldman Sachs expects net profit to reach 2.19 billion yuan in 2025

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[Goldman Sachs adjusts its profit forecast for Zhaojin Mining and raises its stock price target price to HK$16] Goldman Sachs released on May 17finalfight1In the research report, Zhaojin Mining's 2024 - 2026 recurring earnings per share forecast was raised, with an increase of 35% to 47%. This adjustment is based on three major factors: Zhaojin Mining's recent comprehensive acquisition of West Africa Tietto Minerals, expectations of rising gold prices, and the company's plan to place up to 1finalfight1.32 billion new H shares. Goldman Sachs predicts that Zhaojin Mining's first overseas acquisition plan will boost its self-mining gold production by 14% to 29% from 2024 to 2026. With Haiyu Mine expected to be put into operation at the end of 2024, Goldman Sachs expects that the self-mining gold output of Zhaojin will increase significantly, from 15 tons in 2023 to 40 tons in 2028, achieving a compound average annual growth rate of 21%. Driven by production growth and rising gold prices, Goldman Sachs predicts that Zhaojin Mining's recurring net profit in 2025 will reach 2.19 billion yuan. Based on this forecast, Goldman Sachs maintained its "buy" rating on Zhaojin Mining and raised its target price from HK$13 to HK$16.