Market Performance: During the National Day Golden Week holiday, Hong Kong's stock market resumed trading with the HSI starting higher and reaching a four-year high, closing at 27,144, up 288 points or 1.1%.
Tech Stocks Surge: Major tech companies like Tencent, Alibaba, and Baidu saw significant gains, with Tencent hitting a four-and-a-half-year high and Alibaba reaching a four-year high, contributing to the overall market uplift.
Gold Mining Stocks Rise: International gold prices hitting new highs boosted gold mining stocks, with companies like Zijin Mining and Lingbao Gold achieving historical highs in their share prices.
Short Selling Activity: The report highlighted substantial short selling across various stocks, particularly in tech and gold mining sectors, indicating market volatility and investor sentiment.
Wall Street analysts forecast 00340 stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for 00340 is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
0 Analyst Rating
Wall Street analysts forecast 00340 stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for 00340 is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
0 Buy
0 Hold
0 Sell
Current: 3.200
Low
Averages
High
Current: 3.200
Low
Averages
High
CICC
CICC
Outperform
initiated
$3.52
Al Analysis
2025-10-06
Reason
CICC
CICC
Price Target
$3.52
Al Analysis
2025-10-06
initiated
Outperform
Reason
The analyst rating of "Outperform" for TONGGUAN GOLD (00340.HK) by CICC is based on several key factors. Firstly, the acquisition of Xi'an Hongshang, a mining engineering supplier, is expected to lead to reduced production costs through industrial chain integration. Additionally, the collaboration with ZIJIN MINING is viewed positively, as it recognizes the quality of TONGGUAN GOLD's assets and strategic direction. This partnership is anticipated to enhance the company's discretionary cash flow and support its growth potential through horizontal acquisitions. The target price of $3.52 reflects a projected 2026 PE ratio of approximately 15x, indicating a favorable outlook for the company's financial performance.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
