The Zhitong Finance App learned that Bank of China International released a research report stating that it reaffirmed the “buy” rating of Minmetals Resources (01208.HK). The target price was raised from HK$10.86 to HK$11.01, which is equivalent to 8.9 times the projected price-earnings ratio in 2026. The bank raised its 2026-2028 profit forecast by 3% to 5%, mainly due to strong molybdenum and silver production in the third quarter. Copper production in the third quarter of Minmetals Resources increased 3% year-on-year to 1312,000 tons, with rising production capacity in two African mines as the main driving force for growth. According to the company's updated guidelines, the bank estimates that copper production in the fourth quarter fell 6% month-on-month, but still expects annual copper production to increase 3% year-on-year.
Zhitongcaijing · 2d ago
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The Zhitong Finance App learned that Bank of China International released a research report stating that it reaffirmed the “buy” rating of Minmetals Resources (01208.HK). The target price was raised from HK$10.86 to HK$11.01, which is equivalent to 8.9 times the projected price-earnings ratio in 2026. The bank raised its 2026-2028 profit forecast by 3% to 5%, mainly due to strong molybdenum and silver production in the third quarter. Copper production in the third quarter of Minmetals Resources increased 3% year-on-year to 1312,000 tons, with rising production capacity in two African mines as the main driving force for growth. According to the company's updated guidelines, the bank estimates that copper production in the fourth quarter fell 6% month-on-month, but still expects annual copper production to increase 3% year-on-year.
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