Group 1 - Morgan Stanley initiates coverage on Zijin Mining International with an "Overweight" rating and a target price of HKD 175 [1] - The firm expects gold prices to rebound, reaching USD 4,500 per ounce in the second half of the year, supported by Federal Reserve rate cuts, central bank and ETF gold purchases, and potential increases in investor gold holdings [1] - Zijin Mining International's average gold resource procurement cost is USD 61.3 per ounce, significantly lower than the industry average of USD 92.9 per ounce from 2019 to 2024 [1] Group 2 - The company ranks 9th in global mining for gold reserves and 11th for gold production [1] - Zijin Mining International has gold projects in South America, Australia, Africa, and Central Asia [1]
大行评级丨大摩：首予紫金黄金国际“增持”评级及目标价175港元