The Zhitong Finance App learned that Bank of America Securities released a research report saying that Zijin Gold International (02259) maintains the gold production guideline for the full year of this year at 57 tons, and expects production to be between 60 to 65 tons and 67 to 70 tons respectively in 2027 and 2028. The growth is mainly driven by technological improvements and capacity expansion in the five key mines. Based on the interim results and the Group's latest production guidelines, Bank of America Securities raised its 2027 net profit forecast by 9% to US$3.5 billion, and raised the target price from HK$150 to HK$176, maintaining a “buy” rating.

According to the report, the company's total maintenance costs increased year-on-year, mainly due to royalties linked to gold prices. Excluding related effects, unit costs fell 3% year on year in the first half of the year. Bank of America Securities believes that technological upgrades at the five major mines will bring high visibility to production growth, and it is expected that unit costs will normalize after the upgrade project is put into operation, which is the main favorable factor.

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