Core Viewpoint - Gold stocks are actively rising against the market backdrop, driven by expectations of interest rate cuts due to worsening employment conditions in the U.S. [1] Group 1: Gold Stock Performance - Zifeng Gold (01815) increased by 4.71%, closing at 2 HKD - Zijin Mining (02899) rose by 2.37%, closing at 32.82 HKD - China Gold International (02099) gained 1.86%, closing at 131.1 HKD - Shandong Gold (01787) went up by 1.61%, closing at 32.9 HKD - Zhaojin Mining (01818) increased by 1.58%, closing at 29.56 HKD [1] Group 2: U.S. Employment Data - In October, U.S. non-farm employment decreased by 9,100, compared to an increase of 33,000 in the previous month - The number of layoffs reported by Challenger Companies in October reached 153,100, a year-on-year surge of 175.3%, marking the highest level for the same period since 2003 [1] Group 3: Interest Rate Expectations - The probability of the Federal Reserve cutting rates again in December exceeds 70%, according to the CME FedWatch Tool - Focus is on the trading window period in December, with potential discussions on rate cuts for the following year [1] Group 4: Long-term Outlook for Gold - Long-term factors such as excessive debt issuance and de-globalization are driving down the credit of the U.S. dollar - Gold is viewed as a preferred asset to hedge against U.S. dollar credit risk, with a sustained trend of global central banks purchasing gold - The long-term price center for gold is expected to maintain an upward trajectory [1]

Core Viewpoint - Zijin Mining experienced a significant block trade on November 6, with a transaction volume of 7.3 million shares and a transaction value of 217 million yuan, indicating active trading interest in the stock [2] Group 1: Block Trade Details - The block trade price was 29.70 yuan, which is equal to the closing price on the same day, showing no premium or discount [2] - The buyer was Guotai Junan Securities Co., Ltd. headquarters, while the seller was an institutional proprietary account [2] - In the last three months, Zijin Mining has recorded a total of 24 block trades, with a cumulative transaction value of 1.964 billion yuan [2] Group 2: Stock Performance Metrics - On the day of the block trade, Zijin Mining's closing price was 29.70 yuan, reflecting a 2.38% increase [2] - The stock had a turnover rate of 0.87%, with a total trading volume of 5.282 billion yuan for the day [2] - Over the past five days, the stock has seen a cumulative decline of 4.53%, with a net outflow of 729 million yuan [2] Group 3: Margin Financing Data - The latest margin financing balance for Zijin Mining is 6.881 billion yuan, which has decreased by 281 million yuan over the past five days, representing a decline of 3.93% [2]

11月6日，紫金矿业大宗交易成交730万股，成交额2.17亿元，占当日总成交额的3.94%，成交价29.7 元，较市场收盘价29.7元持平。 ...

Core Viewpoint - Morgan Stanley has resumed coverage of Zijin Mining (02899) with an "Overweight" rating and a target price of HKD 46.1, highlighting the company's unique position due to growth in copper and gold production, effective cost control, and attractive valuation [1] Group 1: Company Performance - Zijin Mining has recorded growth in both copper and gold production, which is a key factor in its positive outlook [1] - The company demonstrates good cost control, contributing to its favorable financial performance [1] Group 2: Market Outlook - Morgan Stanley anticipates a significant widening of the copper supply-demand gap by 2026 due to three major copper mine incidents this year leading to production halts [1] - The current copper prices are expected to have substantial upside potential, driven by the anticipated supply constraints [1] - The firm is optimistic about gold price trends, projecting that gold prices could reach USD 4,500 per ounce by mid-next year [1]

Core Viewpoint - Morgan Stanley has resumed coverage of Zijin Mining (601899)(02899) with an "Overweight" rating and a target price of HKD 46.1, highlighting the company's unique position due to growth in copper and gold production, effective cost control, and attractive valuation [1] Group 1: Company Performance - Zijin Mining has recorded growth in both copper and gold production, which is a key factor in its positive outlook [1] - The company is noted for its effective cost control measures, contributing to its competitive advantage in the market [1] Group 2: Market Outlook - Morgan Stanley anticipates a significant widening of the copper supply-demand gap by 2026 due to three major copper mine incidents this year leading to production halts [1] - The current copper prices are expected to have substantial upside potential, driven by the anticipated supply constraints [1] - The firm is also optimistic about gold price trends, projecting that gold could reach USD 4,500 per ounce by mid-next year [1]

Group 1 - The core viewpoint of the report is that due to three copper mine incidents globally this year, the supply-demand gap for copper is expected to widen by 2026, indicating significant upward potential for copper prices [1] - Morgan Stanley identifies Zijin Mining as the best choice in the sector, with an expected compound annual growth rate (CAGR) of 10.5% for copper production and 7.3% for gold production from 2025 to 2028 [1] - The company has effective cost control measures, utilizing advanced autonomous geological exploration technology and self-developed equipment, resulting in average mining costs significantly lower than industry levels [1] Group 2 - Morgan Stanley has initiated coverage on Zijin Mining with a target price of HKD 46.1 for H-shares and CNY 42.2 for A-shares, both rated as "Buy" [1] - The firm anticipates an increase in copper prices in 2025 and 2026, while gold prices may rebound after recent adjustments, with a forecast of reaching USD 4,500 per ounce by mid-2026 [1]

两融数据显示，该股最新融资余额为67.56亿元，近5日减少2.51亿元，降幅为3.58%。（数据宝） 11月5日紫金矿业大宗交易一览 | 成交量 | 成交金 | 成交价 | 相对当日收盘 | | | | --- | --- | --- | --- | --- | --- | | （万 | 额（万 | 格 | 折溢价（%） | 买方营业部 | 卖方营业部 | | 股） | 元） | （元） | | | | | 52.92 | 1535.21 | 29.01 | 0.00 | 中国中金财富证券有限公 司简阳金融街证券营业部 | 中国国际金融股份有限公司 北京建国门外大街证券营业 | | | | | | | 部 | 紫金矿业11月5日大宗交易平台出现一笔成交，成交量52.92万股，成交金额1535.21万元，大宗交易成交 价为29.01元。该笔交易的买方营业部为中国中金财富证券有限公司简阳金融街证券营业部，卖方营业 部为中国国际金融股份有限公司北京建国门外大街证券营业部。 进一步统计，近3个月内该股累计发生23笔大宗交易，合计成交金额为17.47亿元。 证券时报·数据宝统计显示，紫金矿业今日收盘价为29.01元，上 ...

炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 进一步统计，近3个月内该股累计发生23笔大宗交易，合计成交金额为17.47亿元。该股近5个交易日累 计下跌6.30%，主力资金合计净流出9.44亿元。 责任编辑：小浪快报 第1笔成交价格为29.01元，成交52.92万股，成交金额1,535.21万元，溢价率为0.00%，买方营业部为中 国中金财富证券有限公司简阳金融街证券营业部，卖方营业部为中国国际金融股份有限公司北京建国门 外大街证券营业部。 11月5日，紫金矿业收涨0.80%，收盘价为29.01元，发生1笔大宗交易，合计成交量52.92万股，成交金 额1535.21万元。 ...

翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 FF305 公司名稱： 紫金礦業集團股份有限公司 呈交日期： 2025年11月4日 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | --- | --- | --- | --- | --- | --- | | 1. 股份分類 普通股 | 股份類別 | A | 於香港聯交所上市 | 否 | | | 證券代號 (如上市) 601899 | 說明 | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | 已發行股份（不包括庫存股份）變動 | 庫存股份變動 | 每股發行/出售價 (註4) | 已發行股份總數 | | 事件 | 已發行股份（不包括庫存股份）數 目 | 佔有關事件前的現有已發 行股份（ ...

格隆汇11月4日丨紫金矿业(02899.HK)公布，2025年11月4日，公司日期为2025年10月30日的公告所披露 根据A股限制性股票激励计划回购注销A股限制性股票，并于2025年11月4日完成办理注销手续，此次注 销涉及3.06万股A股。 ...