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Zijin Mining Group Co
(2899)
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Rating:65Neutral
Price Target:
HK$32.00
â–¼(-13.61% Downside)
Action:Downgraded
Date:10/24/26
The score is primarily supported by strong recent financial performance (accelerating growth, expanding margins, and improving returns) and reasonable valuation with a solid dividend yield. These positives are partially offset by weak technicals, with the stock in a downtrend and bearish momentum signals.
Positive Factors
Accelerating earnings growth
The sharp acceleration in revenue and simultaneous margin expansion indicate stronger operating leverage and improved profitability across the business. If supported by ongoing production and sales, this creates greater internal funding capacity and strengthens earnings power over the next several quarters.
Negative Factors
Commodity-cycle exposure
Zijin’s earnings depend on a mining business whose results can move with commodity conditions and production outcomes. The exceptional TTM growth rate therefore may not persist, creating a risk that future revenue, margins, and returns normalize if the operating environment becomes less supportive.
Read all positive and negative factors
Positive Factors
Negative Factors
Accelerating earnings growth
The sharp acceleration in revenue and simultaneous margin expansion indicate stronger operating leverage and improved profitability across the business. If supported by ongoing production and sales, this creates greater internal funding capacity and strengthens earnings power over the next several quarters.
Read all positive factors
Zijin Mining Group Co (2899) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$846.58B
Dividend Yield3.21%
Average Volume (3M)34.09M
Price to Earnings (P/E)10.4
Beta (1Y)1.23
Revenue Growth21.28%
EPS Growth65.24%
CountryHK
Employees66,708
SectorBasic Materials
Sector Strength58
IndustryGold
Share Statistics
EPS (TTM)2.71
Shares Outstanding5,989,005,000
10 Day Avg. Volume44,537,815
30 Day Avg. Volume34,089,592
Financial Highlights & Ratios
PEG Ratio0.27
Price to Book (P/B)4.53
Price to Sales (P/S)2.39
P/FCF Ratio18.74
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$51.09Price Target Upside37.93% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering8
EPS Forecast (FY)2.99
Revenue Forecast (FY)HK$449.05B
Zijin Mining Group Co Business Overview & Revenue Model
Company Description
Zijin Mining Group Company Limited, together with its subsidiaries, engages in the exploration, mining, processing, refining, and sale of gold, non-ferrous metals, and other mineral resources in Mainland China and internationally. It operates thro...
How the Company Makes Money
Zijin Mining makes money mainly by producing and selling metals and metal concentrates from its mining operations. (1) Sale of mined metals and concentrates: The core revenue stream is the sale of gold (including doré and refined products where ap...
Zijin Mining Group Co Financial Statement Overview
Summary
Income Statement
86
Very Positive
Balance Sheet
72
Positive
Cash Flow
75
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 377.91B | 349.08B | 303.64B | 293.40B | 270.33B | 225.10B |
| Gross Profit | 141.88B | 96.79B | 61.86B | 46.38B | 42.54B | 34.75B |
| EBITDA | 123.83B | 89.25B | 62.46B | 40.39B | 43.00B | 32.20B |
| Net Income | 71.23B | 51.78B | 32.05B | 21.12B | 20.04B | 15.67B |
Balance Sheet | ||||||
| Total Assets | 559.05B | 513.93B | 396.61B | 343.01B | 306.04B | 208.59B |
| Cash, Cash Equivalents and Short-Term Investments | 103.48B | 75.60B | 37.69B | 24.89B | 25.34B | 17.16B |
| Total Debt | 177.95B | 169.84B | 129.99B | 122.83B | 123.18B | 77.30B |
| Total Liabilities | 282.88B | 266.67B | 218.88B | 204.64B | 181.59B | 115.70B |
| Stockholders Equity | 208.47B | 184.01B | 139.79B | 107.51B | 88.94B | 71.03B |
Cash Flow | ||||||
| Free Cash Flow | 74.61B | 44.46B | 24.06B | 6.43B | 3.88B | 5.92B |
| Operating Cash Flow | 109.38B | 74.64B | 48.86B | 36.86B | 28.68B | 26.07B |
| Investing Cash Flow | -49.77B | -31.66B | -32.24B | -33.96B | -50.98B | -23.76B |
| Financing Cash Flow | -40.27B | -10.29B | -4.43B | -5.82B | 27.26B | 23.32M |
Zijin Mining Group Co Technical Analysis
Negative
37.04
Price Trends
33.82
Negative
32.66
Negative
34.95
Negative
Market Momentum
-1.42
Positive
35.58
Neutral
16.78
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:2899, the sentiment is Negative. The current price of 37.04 is above the 20-day moving average (MA) of 31.11, above the 50-day MA of 33.82, and above the 200-day MA of 34.95, indicating a bearish trend. The MACD of -1.42 indicates Positive momentum. The RSI at 35.58 is Neutral, neither overbought nor oversold. The STOCH value of 16.78 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:2899.
Zijin Mining Group Co Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | HK$329.73B | 13.03 | 28.53% | 2.44% | 106.35% | 216.24% | |
70 Outperform | HK$22.89B | 10.00 | 29.12% | 1.43% | -9.85% | 49.04% | |
66 Neutral | HK$86.14B | 14.86 | 23.19% | 1.78% | 28.82% | 20.15% | |
65 Neutral | HK$846.58B | 10.35 | 36.09% | 3.21% | 21.28% | 65.24% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
60 Neutral | HK$57.85B | 13.87 | 18.96% | 0.70% | 49.44% | 57.33% | |
52 Neutral | HK$123.37B | 21.00 | 17.31% | 3.09% | ― | ― |
* Basic Materials Sector Average
HK:2899
Zijin Mining Group Co
27.98
-3.61
-11.42%
HK:1818
Zhaojin Mining Industry Co
15.96
-13.03
-44.94%
HK:3330
Lingbao Gold Group Company Ltd. Class H
16.26
-0.12
-0.71%
HK:1787
Shandong Gold Mining Co., Ltd. Class H
16.16
-16.15
-49.99%
HK:6693
Chifeng Jilong Gold Mining Co., Ltd. Class H
30.00
1.41
4.95%
HK:2259
Zijin Gold International Company Limited
123.70
-6.30
-4.84%
Zijin Mining Group Co Corporate Events
Zijin Mining Delivers Strong Profit Growth in Third Quarter 2026
Oct 23, 2026
For the third quarter of 2026, Zijin Mining reported operating income of RMB 89.27 billion, up 3.22% year on year, and net profit of RMB 23.70 billion, a 38.94% increase. From January to September 2026, operating income reached RMB 283.45 billion,...
Zijin Mining Announces Resignation of Hong Kong Joint Company Secretary
Oct 23, 2026
Zijin Mining Group has announced that Ms. Zhang Yan has stepped down from her role as joint company secretary in Hong Kong effective 23 October 2026 due to job reallocation, with no disagreements reported with the board or issues requiring shareho...
Zijin Mining Cuts H-Share Board Lot Size to Boost Liquidity
Oct 23, 2026
Zijin Mining Group will reduce the board lot size of its H shares traded on the Hong Kong Stock Exchange from 2,000 to 500 shares, effective 9:00 a.m. on 13 November 2026. Based on the current share price, this move lowers the minimum investment p...
Zijin Mining Donates RMB10 Million for Earthquake Relief in Tibet
Oct 23, 2026
Zijin Mining Group has pledged a RMB10 million donation through its Tibet subsidiaries to support emergency relief and reconstruction efforts following a magnitude 7.0 earthquake in Baqen County, Nagqu City, Tibet. The funds will be used for immed...
Zijin Mining Secures Control of Chifeng Jilong Gold to Bolster Global Gold Portfolio
Oct 22, 2026
Zijin Mining Group has completed the acquisition of controlling power in Chifeng Jilong Gold Mining Group Limited through the transfer of 241,925,746 A shares and the subscription of 310,902,731 new H shares, alongside previously held shares. As a...
Zijin Mining Schedules Online Briefing on Q3 2026 Results
Oct 20, 2026
Zijin Mining Group Co. will hold an online text-based briefing to discuss its operating conditions and financial performance for the third quarter of 2026, giving investors a chance to engage directly with company management. The session will be h...
Zijin Gold International Posts Strong Nine-Month Growth on Higher Gold Output
Oct 19, 2026
Zijin Gold International has reported strong operational and financial performance for the nine months ended 30 September 2026, driven by its gold mining operations across a portfolio of mature and newly acquired mines. The Group focuses on resour...
Zijin Mining Extends Deadlines on Deal to Gain Control of Chifeng Jilong Gold
Sep 28, 2026
Zijin Mining Group Co. has updated its planned acquisition of controlling power in Chifeng Jilong Gold Mining Group Limited, a deal structured through the purchase of approximately 242 million A shares from the current controlling shareholder and ...
Zijin Mining Schedules Board Meeting to Approve Q3 2026 Results
Sep 25, 2026
Zijin Mining Group Co., Ltd., a major Chinese mining company listed on the Hong Kong Stock Exchange, oversees a network of subsidiaries engaged in mineral resource extraction and related activities. The group’s financial reporting provides i...
Zijin Mining Arm Commits RMB1 Billion to Fund in Connected Transaction
Sep 17, 2026
Zijin Mining Group’s investment arm, Zijin Xiamen Equity, has agreed to become a limited partner in the newly established Shidai Shenyuan Fund, committing RMB1 billion for a 20.4081% stake. The fund includes Kunkun Investment, controlled by ...
Zijin Mining Donates RMB10 Million for Tibet Mudslide Relief and Reconstruction
Aug 28, 2026
Zijin Mining Group has announced a donation of RMB10 million to support emergency relief and reconstruction efforts after a deadly mudslide near Gyirong Port in Tibet, which caused severe casualties and missing persons. The funds will be used for ...
Zijin Mining Delivers Strong Profit Surge in First Half of 2026
Aug 23, 2026
Zijin Mining Group reported a strong interim performance for the six months ended 30 June 2026, with operating income rising 15.78% year-on-year to RMB194.178 billion and profit before tax surging 84.05% to RMB63.489 billion. Net profit attributab...
Zijin Mining Cuts ESOP 2026 Transfer Price After Dividend Payouts
Aug 21, 2026
Zijin Mining Group has adjusted the transfer price under its 2026 Employee Stock Ownership Scheme following a series of board and shareholder approvals completed between May and August 2026. The move reflects the board’s authorised role in r...
Zijin Mining completes payment of 2026 interim dividend to H shareholders
Aug 21, 2026
Zijin Mining Group has confirmed payment of its 2026 interim dividend for the six months ended 30 June 2026, distributing RMB 4.2 per 10 H shares, equivalent to about HK$4.839736, to shareholders on record as of 4 August 2026. H shareholders recei...
Zijin Mining to Host Online Briefing on 2026 Interim Results
Aug 19, 2026
Zijin Mining Group Co has announced that it will hold an interim results briefing for the first half of 2026 through an online text-based session on the SSE Roadshow Center platform. Management will discuss operating conditions and financial perfo...
Zijin Gold International Delivers Surge in Interim Profit and Declares First Interim Dividend
Aug 16, 2026
Zijin Gold International reported a strong interim performance for the six months ended 30 June 2026, driven by higher gold prices, full-period contributions from newly acquired assets, and improved operations at mature mines. Mined gold output ro...
Zijin Drops Allied Gold Takeover, Opts for 9.2% Strategic Stake Instead
Jul 29, 2026
Zijin Mining and its Hong Kong subsidiary Zijin Gold International have terminated their previously announced CAD5.5 billion plan to acquire all shares of Allied Gold Corporation after concluding that closing conditions could not reasonably be sat...
Zijin Mining Cuts Bond Conversion Price After Interim Dividend Approval
Jul 29, 2026
Zijin Mining Group has approved an interim cash dividend of RMB4.20 per 10 shares for the six months ended 30 June 2026, triggering a technical adjustment to the conversion price of its US$2 billion 1.0% guaranteed convertible bonds due 2029. The ...
Zijin Mining Cuts Bond Conversion Price After Interim Dividend
Jul 29, 2026
Zijin Mining’s Hong Kong guarantor Jinkai Investment Holdings announced an adjustment to the conversion price of US$1.5 billion zero-coupon guaranteed convertible bonds due 2031, following the board’s approval of an interim cash divide...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.