智通财经APP获悉，建银国际发布研报称，指紫金矿业(02899)2025年第一季度业绩超预期，净利润同比激增62%，按季增长32%，达到102亿人民币，创下公司历史最佳季度业绩。鉴于2025年第一季度业绩超预期、强劲的生产线以及建银国际对黄金和铜价预测的调整，将紫金2025年和2026年的盈利预测分别上调4.4%和10.1%，调整至444亿人民币和515亿人民币。基于2026年盈利预测，采用11倍市盈率和2.5倍市账率，得出目标价22.1港元，高于之前的20.2港元，重申“跑赢大市”评级。
紫金将强劲的盈利增长归因于黄金和铜产量的显著增长、销售价格上涨以及营运效率提升带来的更高盈利能力。建银国际表示，因全球需求强劲，黄金和铜价展望乐观，将2025年和2026年的黄金价格预测分别上调9%和11%，调整至每盎司3,115美元和3,300美元盎司。同时将2025年和2026年的铜价预测分别上调7%和2%，调整至每吨9,825美元和10,000美元。
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