HSBC cuts Zijin Mining stock target from HKD 58 to HKD 51

Published on 10/27/2026 at 09:34 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Nine-month profit rose 51.93 percent to RMB 57.53 billion. Zijin Mining stock trades at EUR 3.16 on October 27, 2026 during German trading.

Earnings and analyst context

HSBC lowered its H-share target from HKD 58 to HKD 51 on October 26, 2026.
Zijin Mining reported RMB 283.45 billion in revenue and RMB 57.53 billion in attributable profit for the first nine months of 2026.
Zijin Mining stock trades at EUR 3.16 at 9:30 a.m. CEST at Lang & Schwarz on October 27, 2026.

Zijin Mining stock, mining, earnings, analyst target, Shanghai Composite, Illustration mit AI erstellt.

Zijin Mining reported RMB 57.53 billion in attributable profit for the first nine months of 2026, up 51.93 percent year over year. On October 26, 2026, HSBC lowered its target for the company's H-shares from HKD 58 to HKD 51 while keeping its Buy rating, according to HSBC.

Profit growth meets execution risks

IBTimes China reported that revenue reached RMB 283.45 billion in the first three quarters of 2026, up 11.51 percent from a year earlier. Third-quarter revenue was RMB 89.27 billion, while attributable profit reached RMB 18.36 billion, up 25.97 percent year over year.

The quarterly figures also show why the analyst target was cut despite strong annual growth. CICC said third-quarter revenue fell 6.7 percent quarter over quarter and attributable profit fell 3.8 percent, while gross margin was supported by higher metal prices and operating measures, according to CICC.

Three events shape the earnings picture

On October 22, 2026, Zijin Mining acquired control of Chifeng Gold, which HSBC said would be consolidated from the fourth quarter of 2026. On October 23, 2026, the company reported RMB 283.45 billion in nine-month revenue and RMB 57.53 billion in attributable profit. On October 26, 2026, HSBC cut its H-share target to HKD 51 from HKD 58 while maintaining its Buy rating.

What does the target cut mean for operations?

The central issue is production delivery. HSBC said mined copper and gold output reached 68 percent and 67 percent of full-year 2026 guidance in the first nine months, respectively, while CICC said third-quarter gold output rose 1.0 percent quarter over quarter and copper output increased 2.2 percent.

Stock price and investor context

Zijin Mining's earnings growth is substantial, but the quarterly decline and production progress create a more demanding test for the Chifeng Gold integration. The combination of higher metal prices, expanding output and project execution will determine whether the 51.93 percent profit increase can continue.

At Lang & Schwarz, Zijin Mining was trading at EUR 3.16 on October 27, 2026 at 9:30 a.m. CEST. The quote was an intraday indication for German investors.