Core Viewpoint - Morgan Stanley initiates coverage on Zijin Mining International (02259) with an "Overweight" rating and a target price of HKD 175, highlighting the company's strong gold mining capabilities and low operational costs [1] Company Summary - Zijin Mining is recognized as a high-quality gold producer with rapidly growing reserves and low acquisition, exploration, and operational costs [1] - The company is expected to experience a compound annual growth rate (CAGR) of approximately 26% in revenue from 2024 to 2027, driven by favorable gold price outlook and increased gold production [1] Industry Summary - Morgan Stanley is optimistic about the gold price outlook, predicting that gold prices will reach USD 4,500 per ounce by mid-next year, supported by interest rate cuts, central bank purchases of ETFs, and potential high investor allocations [1]
大摩：首予紫金黄金国际(02259)“增持”评级 目标价175港元