Zhi Tong Cai Jing·2025-10-21 06:32Core Viewpoint - Morgan Stanley's report indicates that Zijin Mining (601899)(02899) demonstrates resilient growth in its third-quarter performance, reaffirming a positive stance due to favorable macro and micro conditions for gold and copper prices [1] Group 1: Financial Performance - The overseas business successfully spun off and listed, creating new growth opportunities [1] - The gold segment's profit contribution has increased, solidifying its role as a key growth engine [1] Group 2: Price and Earnings Forecast - The bank raised its earnings forecast for Zijin Mining for 2025 to 2027 by 9% to 20% due to the upward momentum in metal prices and strong production fundamentals [1] - The target price for H-shares has been increased from 28 HKD to 42 HKD, maintaining the stock's status as a top pick in the industry with a "Buy" rating [1]