智通财经网·2026-02-12 03:21Core Viewpoint - Zijin Mining (02899) has seen a significant increase of over 4%, currently trading at 45.3 HKD with a transaction volume of 2.272 billion HKD, driven by positive analyst upgrades and favorable commodity price forecasts [1] Group 1: Analyst Upgrades - Citigroup has raised the target prices for Zijin Mining's A-shares and H-shares by over 30%, citing increased gold and lithium price forecasts as well as higher gold sales [1] - The new target price for Zijin's H-shares is raised by 32.8% from 39 HKD to 51.8 HKD, and for A-shares from 35.5 RMB to 46.6 RMB, an increase of 31.3% [1] - Citigroup expects the company to gradually increase its dividend payout ratio, projecting a payout ratio of 40% starting in 2025 [1] Group 2: Market Position and Growth Potential - Zheshang Securities identifies Zijin Mining as a leading global player in gold and copper resources, benefiting from a rising price trend in both metals amid a declining interest rate environment and escalating geopolitical risks [1] - The company is expected to achieve volume and price increases due to ongoing production from projects like the Giant Dragon Copper Mine, Kazakhstan Gold Mine, and Allied Gold Corporation [1] - The rebound in lithium prices is anticipated to contribute to a third growth curve, significantly boosting the company's performance, with current valuation levels considered low within the industry, suggesting potential for valuation re-rating [1]