BofA Securities: Zijin Mining (02899.HK) Q3 Net Profit Below Expectations on Soft Output and Rising Costs

Zhitong Finance APP has learned that BofA Securities issued a research report stating that Zijin Mining (02899.HK) reported third-quarter net profit below expectations, with production somewhat soft and costs rising. The bank believes the stock's valuation is not expensive, maintains a "Buy" rating and a target price of HK$43, and is bullish on the outlook for copper prices and continued production growth. The bank believes there are downside risks to the full-year production targets for gold and copper, while lithium production is broadly in line with schedule.