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研報掘金|中金:予招金礦業“跑贏行業”評級及目標價27港元 成長動能強勁
格隆匯 07-15 10:07

中金髮表研究報吿指,招金礦業為國內黃金企業龍頭,成長動能強勁,再次覆蓋該股給予“跑贏行業”評級,目標價為27港元,對應2025年市盈率約27倍。

中金表示,招金礦業成長動能強勁的理由包括其持有海域金礦70%股權,公司預計海域金礦達產後年產黃金15至20噸,歸屬於公司權益產量約10.5至14噸,其或將成為國內最大在產黃金礦山之一。其次,招金礦業於2024年6月私有化鐵拓礦業,同時完成西金礦業收購。中金預計後續招金或將以鐵拓礦業和西金礦業為支點持續擴張,加速國際化進程,助力公司開創“國內一半、國外一半”的發展新局。

中金認為,公司未來三至五年內生外延增長的成長性具備可持續性,看好公司優質資源佈局轉化為產能擴張與長期業績支撐的成長邏輯。中金預計,公司2025至2026年每股盈利分別為0.92元及1.1元,年均複合增長率為62%。

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