Lingbao Gold Group Company Ltd. (HKG:3330) shares surged 11.57% in intraday trading on Wednesday, as investors cheered the company's strong earnings growth prospects.
The stock's meteoric rise comes after a shaky period, with shares rallying 59% over the past month and a staggering 200% over the past year. This impressive performance has been fueled by Lingbao Gold Group's robust earnings growth, which has outpaced the broader market.
While the company's price-to-earnings (P/E) ratio of 15.2x may seem high compared to industry peers, analysts believe this premium valuation is justified by Lingbao Gold Group's strong fundamentals. The company has delivered solid earnings growth, with a 22% increase in the last year and a remarkable 103% growth over the past three years. This impressive track record has investors betting that Lingbao Gold Group will continue to outperform market expectations, supporting its higher P/E multiple.
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