Zijin Mining 2899

Re: Zijin Mining 2899

Postby winston » Mon Mar 31, 2014 2:40 pm

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<Research Report>ZIJIN MINING (02899.HK) rated Neutral with target raised to $1.5 - CS

Credit Suisse noted in a research report that it is worse than its expectation and 12% lower than the market consensus for ZIJIN MINING (02899.HK) 2013 net profit to fall 59% yearly to RMB2.1 billion, mainly dragged down by the one-time loss of RMB919 million.

Meanwhile, the recurring net profit was 9% higher than the research house's estimate.

The negative factor of rising cost is expected to be eased, and the 2014-15 gold and copper unit price is expected to grow 2% to 5% during 2014-15, Credit Suisse said.

The 2014-15 earning forecast was raised by 4% and 3%. The target price was lifted from $1.4 to $1.5, with Neutral rating remained.

Source: AAStocks Financial News
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Re: Zijin Mining 2899

Postby winston » Mon Mar 31, 2014 5:00 pm

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Zijin to Look at Shale Gas, Target ‘Super’ Mines

Zijin Mining Group Co., China’s biggest gold miner by market value, is studying a move into shale gas and will target buying “super” mines after falling bullion prices and rising costs cut its earnings.


http://www.bloomberg.com/news/2014-03-3 ... drops.html
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Re: Zijin Mining 2899

Postby winston » Wed Apr 02, 2014 7:51 pm

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Zijin Mining (2899 HK)

2013: Weak Metals Prices Dimming Earnings Growth Outlook

Zijin’s in-line but weak net profit that fell 59%, was due mainly to a price decline, impairment provisions and cost increases.

Gold production will continue to face cost increases on ore grade declines, but its future copper production will be strong, thus helping to offset gold earnings decline from cost pressure.

That said, the weak price outlook remains the key overhang.

High dividend payout may be sustained on strong cash flow.

Maintain HOLD. Target price: HK$1.70. Entry price: HK$1.40.

Source: UOBKH
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Re: Zijin Mining 2899

Postby winston » Wed Jul 23, 2014 3:52 pm

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<Pre-Result>ZIJIN MINING(02899.HK) 1H profits up 1.3% to RMB1.1B

ZIJIN MINING(02899.HK) announced in the preliminary results of the first six months of 2014 that the company's operating income dropped 7.7% to RMB$23.986 billion year-on-year.

Its operating profit and profit before tax declined respectively 9.22% and 10.31% to RMB$1.921 billion and RMB$1.869 billion.

The net profit was RMB$1.112 billion, with a 1.32% rise. The EPS were RMB5.1 cents. ~

Source: AAStocks Financial News
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Re: Zijin Mining 2899

Postby winston » Thu Jul 24, 2014 9:28 am

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Encouraging Prelimary Results And Improving Price Outlook; Upgrade To BUY

Zijin waded through a price decline in 1H14 with positive earnings growth, reflecting improving operating performance on the back of cost control, production expansion and product diversification.

Upgrade to BUY on the improving price outlook in 2H14 mainly due to reduced oversupply risks in copper and zinc, strong balance sheet and generous dividend payout. We raise target price to HK$2.25.

WHAT’S NEW

• Zijin announced its 1H14 preliminary results. Revenue declined 7.7% yoy to Rmb24.0b as prices of gold and copper declined 14% and 13% yoy respectively. That said, production and sales volumes of mineral products (mainly gold and copper) increased, which offset
the impact of lower metal prices.

• Operating profit declined 9.2% yoy as production cost rose due mainly to the increase in labour and environmental protection costs as well as an increase in the processing of low-grade ores.

• Net profit attributable to owners of equity shareholders rose 1.3% yoy mainly because of reduced earnings (or increased losses) from minority interests (down 41% yoy to Rmb257m).

ESSENTIALS

• Zijin’s 1H14 net profit is in line with our expectation, accounting for 52% of our full-year forecast and 53% of consensus.
• Zijin stands out among peers (gold-only play) due to its:
a) diversification into copper and Zznc from gold,
b) production and sales volume growth in copper, gold and zinc, and
c) moderate increase in production cost (due to cost control and commission of low-cost mines)

OUTLOOK
• 2H14 earnings will continue to benefit from the above three major factors. Moreover, we think stable gold prices (due to the overhang of geopolitical risks) and copper prices (due to production delays and low exchanges’ inventories) and a strong increase in zinc prices
(due to a shortage) are positive catalysts.

Source: UOBKH
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Re: Zijin Mining 2899

Postby winston » Mon Aug 18, 2014 9:55 am

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Zijin Mining (2899 HK)

1H14: Earnings Growth Visibility From Production Volume Growth And Cost Control

Zijin’s 1H14 in-line results reflected its efforts in cost control, production expansion and product diversification.

Looking to 2H14 and beyond, its key growth drivers are continued production increase and room for further cost reduction on increased economies of scales.

Improving economic fundamentals and reduced global oversupply risks in copper and zinc will limit price downside.

Maintain BUY with DCF-based target price raised to HK$2.50 on improving operational profitability.

Source: UOBKH
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Re: Zijin Mining 2899

Postby winston » Mon Aug 18, 2014 6:12 pm

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ZIJIN MINING (02899.HK) 2014 capex about RMB4-8B

ZIJIN MINING (02899.HK) -0.030 (-1.402%) Short selling $1.09M; Ratio 2.272% 's executive director and president Wang Jianhua said the group has not changed the strategy to conduct acquisitions and mergers overseas, and it will choose projects that can generate synergy effect, not affected by geopolitical factors with good transportation and mature technology.

The group's capital expenditure for 2014 is approximately RMB4 billion to RMB8 billion, and it used not more than RMB1.4 billion for acquisitions and mergers in the first half of the year.

Source: AAStocks Financial News
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Re: Zijin Mining 2899

Postby winston » Mon Aug 18, 2014 6:16 pm

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ZIJIN MINING (02899.HK) kept Neutral, target hiked to $2.2 - C Suisse

Credit Suisse said in its latest research report that stripping out one-off items, ZIJIN MINING (02899.HK) -0.030 (-1.402%) Short selling $1.09M; Ratio 2.272% 's profit increased 4% year-on-year to RMB1.4 billion for the first half of 2014, higher than its estimate of 9%.

The volume growth and good cost control offset impacts from declining commodity prices.

The research house revised downwards 2014 earnings forecast for the company by 9% to RMB2.3 billion to reflect the one-off loss, while revised upwards 2015 and 2016 earnings forecasts to RMB3.5 billion and RMB3.8 billion respectively, mainly on the lower costs.

The target price of the company was raised from $1.7 to $2.2, and the rating was maintained at Neutral.

Source: AAStocks Financial News
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Re: Zijin Mining 2899

Postby winston » Tue Aug 19, 2014 7:03 am

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Prices to deny miner light at end of tunnel

Zijin Mining (2899) continues to face challenges as prices of both precious and industrial metals are unlikely to rise this year, group president Wang Jianhua said.

Mining activity has waned as a weak domestic property market hits demand for industrial raw materials, Wang said.

Although gold remains the main business, Zijin is studying the feasibility of extracting natural gases like shale gas and methane clathrate. Plans also include focusing on mergers and acquisitions in Africa and South America.

Chief financial officer Lin Hongying expects up to eight billion yuan (HK$10.01 billion) to be spent on M&As for the year. Under 1.4 billion yuan was spent in the first half.

Interim net profit rose 1 percent on- year to 1.11 billion yuan, while revenue fell 7.7 percent to 23.99 billion yuan.

Earnings per share hit 5.1 fens and no interim dividend was declared.

Source: The Standard HK
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Re: Zijin Mining 2899

Postby winston » Thu Sep 04, 2014 3:26 pm

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ZIJIN MINING (02899.HK) approved to set up metals exchange

ZIJIN MINING (02899.HK) announced the Development of the Shenzhen Municipal Government Financial Services Office had approved establishment of the Shenzhen Zijin Global Metals Exchange Centre Company Limited at Qianhai Shenzhen-Hong Kong Cooperation Zone in Shenzhen.

The registered capital of the metals exchange will be RMB100 million. ~

Source: AAStocks Financial News
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