Zijin Mining (HKG:2899, SHA:601899) saw its stock price soar by 5.09% in the pre-market trading session on Monday, following the release of its impressive 2024 financial results. The Chinese mining giant reported a substantial 52% increase in attributable profit, significantly outperforming market expectations.
According to the company's filing with the Hong Kong Stock Exchange, Zijin Mining's attributable profit reached 32.1 billion yuan in 2024, up from 21.1 billion yuan in the previous year. This remarkable growth translated to earnings per share (EPS) of 1.20 yuan, surpassing the 1.19 yuan EPS estimate by analysts at Visible Alpha. The company's operating income also saw a modest increase of 3.5%, reaching 303.6 billion yuan.
In light of its strong performance, Zijin Mining declared a final dividend of 0.28 yuan per share. Additionally, the company announced ambitious production targets for 2025, including 1.15 million tonnes of mine-produced copper and 85 tonnes of mine-produced gold, signaling confidence in its future growth prospects. The market's enthusiastic response to these results underscores investors' positive outlook on Zijin Mining's financial health and growth trajectory.
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