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Zijin Mining Group Co
(2899)
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Rating:81Outperform
Price Target:
HK$45.00
â–²(21.49% Upside)
Action:Upgraded
Date:08/24/26
The score is driven primarily by strong financial performance (expanding margins, high profits, and improving free cash flow), supported by constructive technical momentum (price above major moving averages with positive MACD). Valuation is reasonable with a mid-teens P/E and a modest dividend yield, while leverage and imperfect cash conversion temper the overall rating.
Positive Factors
Strong Revenue and Earnings Growth
Strong revenue expansion alongside much faster earnings growth indicates improving scale and operating leverage. If supported by continued production growth and project ramp-ups, this can strengthen profitability and competitive position over the next several quarters.
Negative Factors
Material Leverage
Leverage remains meaningful for a cyclical mining business. A prolonged downturn in gold, copper, or other metals could pressure earnings and reduce financial flexibility, while higher funding costs could constrain investment or increase refinancing risk.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong Revenue and Earnings Growth
Strong revenue expansion alongside much faster earnings growth indicates improving scale and operating leverage. If supported by continued production growth and project ramp-ups, this can strengthen profitability and competitive position over the next several quarters.
Read all positive factors
Zijin Mining Group Co (2899) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$1.02T
Dividend Yield2.56%
Average Volume (3M)57.00M
Price to Earnings (P/E)13.0
Beta (1Y)1.08
Revenue Growth21.20%
EPS Growth74.87%
CountryHK
Employees66,708
SectorBasic Materials
Sector Strength58
IndustryGold
Share Statistics
EPS (TTM)2.56
Shares Outstanding5,988,921,400
10 Day Avg. Volume54,260,218
30 Day Avg. Volume56,997,429
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$52.97Price Target Upside43.00% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering9
EPS Forecast (FY)3.02
Revenue Forecast (FY)HK$463.64B
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
74
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 375.11B | 349.08B | 303.64B | 293.40B | 270.33B | 225.10B |
| Gross Profit | 129.78B | 96.79B | 61.86B | 46.38B | 42.54B | 34.75B |
| EBITDA | 115.46B | 89.25B | 62.46B | 40.39B | 43.00B | 32.20B |
| Net Income | 67.45B | 51.78B | 32.05B | 21.12B | 20.04B | 15.67B |
Balance Sheet | ||||||
| Total Assets | 542.92B | 513.93B | 396.61B | 343.01B | 306.04B | 208.59B |
| Cash, Cash Equivalents and Short-Term Investments | 105.07B | 75.60B | 37.69B | 24.89B | 25.34B | 17.16B |
| Total Debt | 173.20B | 169.84B | 129.99B | 122.83B | 123.18B | 77.30B |
| Total Liabilities | 273.07B | 266.67B | 218.88B | 204.64B | 181.59B | 115.70B |
| Stockholders Equity | 201.93B | 184.01B | 139.79B | 107.51B | 88.94B | 71.03B |
Cash Flow | ||||||
| Free Cash Flow | 69.54B | 44.46B | 24.06B | 6.43B | 3.88B | 5.92B |
| Operating Cash Flow | 103.29B | 74.64B | 48.86B | 36.86B | 28.68B | 26.07B |
| Investing Cash Flow | -20.05B | -31.66B | -32.24B | -33.96B | -50.98B | -23.76B |
| Financing Cash Flow | -29.76B | -10.29B | -4.43B | -5.82B | 27.26B | 23.32M |
Zijin Mining Group Co Technical Analysis
Positive
37.04
Price Trends
33.26
Positive
33.46
Positive
34.87
Positive
Market Momentum
0.85
Positive
54.26
Neutral
32.01
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:2899, the sentiment is Positive. The current price of 37.04 is above the 20-day moving average (MA) of 36.55, above the 50-day MA of 33.26, and above the 200-day MA of 34.87, indicating a bullish trend. The MACD of 0.85 indicates Positive momentum. The RSI at 54.26 is Neutral, neither overbought nor oversold. The STOCH value of 32.01 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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 |
|---|---|---|---|---|---|---|---|
81 Outperform | HK$1.02T | 13.03 | 36.04% | 2.56% | 21.20% | 74.87% | |
81 Outperform | HK$95.71B | 18.53 | 27.07% | 1.32% | 47.35% | 61.26% | |
76 Outperform | HK$435.98B | 17.37 | 28.53% | 1.88% | 106.35% | 216.24% | |
70 Outperform | HK$31.58B | 14.01 | 28.91% | 1.03% | -9.85% | -28.13% | |
67 Neutral | HK$78.36B | 18.57 | 18.85% | 0.52% | 49.44% | 61.42% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
59 Neutral | HK$186.68B | 31.85 | 17.31% | 2.06% | ― | ― |
* Basic Materials Sector Average
HK:2899
Zijin Mining Group Co
35.92
9.19
34.36%
HK:1818
Zhaojin Mining Industry Co
21.88
-6.03
-21.61%
HK:3330
Lingbao Gold Group Company Ltd. Class H
23.00
7.06
44.32%
HK:1787
Shandong Gold Mining Co., Ltd. Class H
25.80
-6.52
-20.18%
HK:6693
Chifeng Jilong Gold Mining Co., Ltd. Class H
40.98
11.33
38.19%
HK:2259
Zijin Gold International Company Limited
159.70
41.64
35.28%
Zijin Mining Group Co Corporate Events
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...
Zijin Mining Accelerates 2026 Interim Dividend and Details Tax Treatment for Overseas H Shareholders
Jul 22, 2026
Zijin Mining’s board has approved an interim cash dividend for the first half of 2026, set at RMB4.20 per 10 shares, bringing forward the decision to an extraordinary meeting on 10 July 2026 to let shareholders benefit earlier from the compa...
Zijin Mining Updates Terms and Tax Treatment of 2026 Interim Dividend
Jul 22, 2026
Zijin Mining Group Co., Ltd. has updated details of its interim ordinary cash dividend for the six months ended 30 June 2026, declaring RMB 4.2 per 10 shares for the financial year ending 31 December 2026, payable in Hong Kong dollars at HKD 4.839...
Zijin Mining Sets Interim Dividend of RMB4.20 per 10 Shares
Jul 10, 2026
Zijin Mining Group Co., Ltd. has approved a profit distribution proposal for the six months ended 30 June 2026, setting a cash dividend of RMB4.20 per 10 shares, inclusive of tax, for all shareholders on the record date, excluding shares held in i...
Zijin Mining Sets 2026 Interim Dividend Timetable for Hong Kong H Shareholders
Jul 10, 2026
Zijin Mining Group Co. has announced arrangements for the distribution of its interim dividend for the six months ended 30 June 2026 to holders of its H shares listed in Hong Kong. The company will close the register of H shareholders from 27 July...
Zijin Mining Declares Interim Dividend and Sets Timetable for Shareholders and Bondholders
Jul 10, 2026
Zijin Mining Group Co., Ltd. has declared an interim ordinary cash dividend of RMB 4.2 per 10 shares for the six months ended 30 June 2026, for the financial year ending 31 December 2026. Key dates include an ex-dividend date of 23 July 2026, a re...
Zijin Mining Confirms Cross-Border Payment of 2025 Final Dividend
Jul 10, 2026
Zijin Mining Group Co., Ltd., a leading Chinese miner of gold, copper and other non-ferrous metals, maintains a dual presence in Mainland China and Hong Kong through its H-share listing and Stock Connect participation. This cross-border structure ...
Zijin Mining Forecasts 68% Jump in First-Half 2026 Profit
Jul 9, 2026
Zijin Mining Group expects a sharp rise in interim earnings, projecting net profit attributable to shareholders of about RMB39.1 billion for the first half of 2026, up roughly 68% year-on-year from RMB23.3 billion. Net profit after excluding non-r...
Zijin Gold International Forecasts 169% Surge in First-Half 2026 Profit
Jul 9, 2026
Zijin Gold International Company Limited, a Hong Kong-incorporated mining subsidiary of Zijin Mining Group, operates in the gold and mineral resources industry and is listed on the Hong Kong Stock Exchange. The company serves both domestic and int...
Zijin Mining Sets August Board Meeting to Approve 2026 Interim Results
Jun 29, 2026
Zijin Mining Group Co., Ltd. has scheduled a board meeting for 21 August 2026 to review and approve the interim results for the first half of 2026, covering the period ended 30 June 2026. The board will also consider the potential declaration of a...
Zijin Mining Lowers Convertible Bond Conversion Price After Dividend Payout
Jun 12, 2026
Zijin Mining Group has adjusted the conversion price of its US$1.5 billion zero-coupon guaranteed convertible bonds due 2031 following the approval of a 2025 profit distribution plan. The final cash dividend of RMB3.8 per 10 shares will be paid to...
Zijin Mining Lowers Convertible Bond Conversion Price After Dividend Approval
Jun 12, 2026
Zijin Mining Group Co., Ltd. and its Hong Kong-incorporated issuer Gold Pole Capital Company Limited announced an adjustment to the conversion price of their US$2 billion 1.0% guaranteed convertible bonds due 2029. Following shareholder approval o...
Zijin Mining Shareholders Approve All 2025 AGM Resolutions, Back Profit Distribution Plans
Jun 5, 2026
Zijin Mining Group Co., Ltd. announced that all resolutions proposed at its 2025 Annual General Meeting, held on 5 June 2026 in Fujian Province, were duly approved by shareholders via poll, with each motion receiving more than 99% of votes cast in...
Zijin Mining Updates Final 2025 Dividend Terms and Tax Treatment for H Shareholders
Jun 5, 2026
Zijin Mining Group has declared a final ordinary cash dividend of RMB 3.8 per 10 shares for the financial year ended 31 December 2025, with shareholders approving the payout on 5 June 2026. For holders of H shares in Hong Kong, the dividend will b...
Zijin Mining Moves 2025 AGM to Larger Nearby Venue
Jun 2, 2026
Zijin Mining Group has changed the venue for its 2025 annual general meeting from the conference room at its headquarters to the multifunction hall at the nearby Zijin Hotel in Shanghang County, Fujian, after the number of registered attendees exc...
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.