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| HSCEI1 | 8,434.25 | -120.78 | 21.42B |
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2026-09-03 11:09:03 Goldman Sachs issued a report, having reviewed the 1H results of 19 stocks under coverage involving aluminum, copper, gold, lithium and other EV-related metals. Among them, the results of copper, aluminum and gold companies broadly missed, while lithium companies delivered mixed performances. The broker said elevated aluminum prices drove margin expansion for aluminum producers; copper companies benefited from rising copper prices, although cost inflation partly offset the gains; most lithium companies turned losses into profits due to the rebound in lithium prices; meanwhile, rising sulfur prices and lower MHP output weighed on the earnings performance of HUAYOU COBALT (603799.SH) and GEM (002340.SZ). For individual stocks, the broker maintained Buy ratings on ZIJIN MINING (02899.HK), CMOC (03993.HK), JIANGXI COPPER (00358.HK) and MMG (01208.HK); maintained a Sell rating on CHALCO (02600.HK) and a Neutral rating on CHINAHONGQIAO (01378.HK); upgraded GANFENGLITHIUM (01772.HK) from Sell to Neutral; and maintained a Sell rating on TIANQI LITHIUM (09696.HK). At the same time, it downgraded ZHAOJIN MINING (01818.HK) from Buy to Neutral. The broker also adjusted target prices for several stocks. The TP for CHALCO (02600.HK) was cut from HKD7.5 to HKD6.8, while that for CHINAHONGQIAO (01378.HK) was reduced from HKD26 to HKD23. The TP for JIANGXI COPPER (00358.HK) was raised from HKD45 to HKD50, while those for MMG (01208.HK) and CMOC (03993.HK) were lowered from HKD14 and HKD25 to HKD12.5 and HKD23.5 respectively. The TP for ZIJIN MINING (02899.HK) was maintained at HKD51. The TP for ZHAOJIN MINING (01818.HK) was sharply reduced from HKD42 to HKD21.5, while those for GANFENGLITHIUM (01772.HK) and TIANQI LITHIUM (09696.HK) were cut from HKD60 and HKD48 to HKD46 and HKD33 respectively. ~ AASTOCKS Financial News Website: www.aastocks.com | |