Core Viewpoint - Bank of America Securities has raised the target price for Zijin Mining to HKD 26 and reiterated a buy rating, despite a forecasted increase in copper and gold costs for the year [1] Group 1: Company Performance - Zijin Mining's management predicts copper production for the year will be between 10,700 to 10,800 tons, consistent with last year's levels [1] - The company remains optimistic about the long-term potential of the Kamoa-Kakula project [1] Group 2: Market Conditions - Following President Trump's announcement of a 50% tariff on imported copper, copper prices initially fell but have since continued to rise [1] - The average copper price year-to-date is USD 9,469 per ton, reflecting a 4% year-on-year increase [1] - The forecasted copper price for this year is USD 9,557 per ton, also a 4% year-on-year increase, with an expected price of USD 9,634 per ton in the second half, a 2% increase from the first half [1] Group 3: Financial Projections - Bank of America Securities has adjusted Zijin Mining's net profit forecast down by 2% for this year, but has increased the forecasts for 2026 and 2027 by 1% and 5%, respectively [1] - The target price for Zijin Mining has been raised from HKD 23 to HKD 26 [1]