Zhi Tong Cai Jing·2026-02-10 06:21Core Viewpoint - Bank of America Securities reaffirms Zijin Mining (601899) (02899) as a preferred stock, maintaining a "Buy" rating with a target price of HKD 50 for H-shares and CNY 45 for A-shares, citing strong long-term production growth, strict cost control, and reasonable valuation, while being optimistic about gold and copper price prospects [1] Production Guidance - Zijin Mining has raised its production guidance for 2026 to 2028, expecting gold production to reach 130 to 140 tons by 2028, up from the previous guidance of 100 to 110 tons, with a compound annual growth rate (CAGR) of 13% to 16% from 2025 to 2028 [1] - The company also projects copper production to reach 1.5 to 1.6 million tons by 2028, with a CAGR of 11% to 14% during the same period [1] - Additionally, the lithium production guidance for 2028 has been increased to 270,000 to 320,000 tons, up from the previous estimate of 250,000 to 300,000 tons, indicating a CAGR of 121% to 134% from 2025 to 2028 [1]