Goldman Sachs cuts target for Zijin Mining stock to HKD 48

Published on 10/26/2026 at 16:13 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Third-quarter profit rose 26.00 percent to RMB 18.40 billion on October 26, 2026. Zijin Mining stock costs EUR 3.17 on October 26, 2026.

Analyst target and results

Goldman Sachs cut its H-share target from HKD 51.00 to HKD 48.00 on October 26, 2026.
Third-quarter net profit rose 26.00 percent year over year to RMB 18.40 billion.
Zijin Mining stock costs EUR 3.17 at Lang & Schwarz on October 26, 2026 at 4:04 p.m. CET.
The Hong Kong listing closed at HKD 27.74, down 5.84 percent, with a 10.48 price-to-earnings ratio.

Zijin Mining, CNE100000502, Illustration mit AI erstellt.

Zijin Mining Group Company Limited (ISIN CNE100000502) saw Goldman Sachs lower its H-share target from HKD 51.00 to HKD 48.00 on October 26, 2026, while keeping a Buy rating, according to Futu. The stock was priced at EUR 3.17 at Lang & Schwarz on October 26, 2026 at 4:04 p.m. CET.

Third-quarter earnings set the tone

Zijin Mining reported third-quarter revenue of RMB 89.27 billion, up 3.20 percent from the same quarter a year earlier but down 6.70 percent from the prior quarter. Net profit attributable to shareholders reached RMB 18.36 billion, a year-over-year increase of 26.00 percent and a quarter-over-quarter decline of 3.80 percent, according to Futu.

The earnings profile was mixed across metals. Gold ingot prices fell 6.70 percent sequentially to RMB 916.40 per gram, while mined copper output increased 2.20 percent quarter over quarter to 281,000 tonnes. The company also completed its acquisition of controlling interest in Chifeng Gold in October 2026, expanding its gold-mining portfolio.

Hong Kong shares remain below the yearly high

On the Hong Kong exchange, Zijin Mining closed at HKD 27.74 on October 26, 2026, down 5.84 percent from the prior close of HKD 29.46. Its 52-week range was HKD 26.58 to HKD 46.98, placing the close 40.96 percent below the high. The listing had a price-to-earnings ratio of 10.48 and a market capitalization of HKD 737.6 billion.

Targets and valuation dates

Goldman Sachs cited recurring net profit of RMB 56.80 billion for the first nine months of 2026 and said it represented 70.00 percent to 71.00 percent of its full-year forecast. The official investor calendar listed Zijin Mining's third-quarter report on October 23, 2026, while a briefing announcement was dated October 20, 2026, according to Zijin Mining.

Comparison with peers

Zijin Mining: down 5.84 percent, P/E 10.48, market capitalization HKD 737.6 billion.

Freeport-McMoRan (NYSE, USD): up 0.44 percent, P/E 32.06, market capitalization USD 94.1 billion.

BHP Group (NYSE, USD): up 1.73 percent, P/E 20.22, market capitalization USD 201.3 billion.

What investors can measure next

The immediate contrast is between the earnings figures and the share-price position. Third-quarter profit increased 26.00 percent year over year, yet the Hong Kong listing remained 40.96 percent below its 52-week high. Goldman Sachs' revised HKD 48.00 target is 72.89 percent above the HKD 27.74 Hong Kong close.

At Lang & Schwarz, the stock was trading at EUR 3.17 on October 26, 2026 at 4:04 p.m. CET.

The further course of trading is shown by the continuously updated real-time quote of Zijin Mining stock.