You are browsing the Hong Kong website, Regulated by Hong Kong SFC (CE number: BJA907). Investment is risky and you must be cautious when entering the market.
《大行報告》大摩料中資黃金股可續跑贏大市 升紫金、招金及山東黃金目標價
阿思達克 08-06 14:06
大摩發表的研究報告指,仔細研究金礦企業的上行潛力,雖然由於近期收購的項目仍在等待批核,故未反映在估算上,但認為增長前景仍會帶動股價進一步反彈,認為中資黃金股在國際併購活動上仍會維持活躍,特別是山東黃金(01787.HK)及紫金(02899.HK),兩家公司在海外營運及合作均有經驗,加上以人民幣計金價升勢更強,按年升約27%,而美元計金價則升25%,內地金價亦較歷史高位高9%,估計中資黃金股可繼續跑贏大市。

該行的團隊認為疫情導致全球衰退,估計將為股市的盈利能力帶來長遠影響,而其商品團隊估計2021年在較「牛」的情況下金價為每盎司2,010美元,雖然今年以來金價已升28%,但留意到黃金ETF的資產總值已增長39%至184億美元,認為資金流入相關ETF將為額外推動國際金價。而山東黃金產量已是全球第十一大,但仍未被納入GDM指數,假如獲納入將成股份的催化劑。

該行認為招金礦業(01818.HK)及紫金為該行首選,而山東黃金在較「牛」的情況下則有最多上行空間。隨著金價接近其較「牛」的情景,將三家公司目標價上調。該行已考慮到長遠產量增長及近期收購的資產,予招金及紫金「增持」評級,招金目標價由10.9元升至11.98元,紫金目標價由3.89元升至5.1元,而山東黃金評級「與大市同步」,目標價由18.23元升至24.45元。(el/u) ~

Follow us
Find us on Facebook, Twitter , Instagram, and YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app!
Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements. Any calculations or images in the article are for illustrative purposes only.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance. Please carefully consider your personal risk tolerance, and consult independent professional advice if necessary.
uSMART
Wealth Growth Made Easy
Open Account