研報掘金丨華創證券:首予赤峯黃金“推薦”評級,目標價19.4元
華創證券研報指出,赤峯黃金(600988.SH)是黃金行業優秀採選企業,降本增效持續推進。海外礦山整合加速佈局,未來增量空間廣闊。當前瓦薩金礦露天開採重啟,並推動井下掘進和採礦效率提升,24年或進入年產金6噸以上行列,“雙萬計劃”預計3-5年產黃金達10噸及以上,規劃28年產金35.3萬盎司(約折12.5噸)。另外,公司拓展稀土新材料產業,有望增厚公司業績。2025年可比公司平均估值16倍,我們給予公司2025年16倍估值,對應目標價19.4元,首次覆蓋,給予“推薦”評級。
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