G Sachs maintains a Buy rating for Zijin Mining due to its strong 1Q26 results, which met expectations with a significant year-on-year profit increase. Despite raising unit cost forecasts due to rising energy prices, the broker anticipates continued strong growth for Zijin in 2026, driven by higher gold and copper prices and output growth. The target prices for both A and H shares were slightly reduced, but the overall valuation remains attractive.
