Don’t Miss TipRanks’ Half Year Sale
- Take advantage of TipRanks Premium for 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
An announcement from Zijin Mining Group Co ( (HK:2899) ) is now available.
Zijin Mining Group Co., through its subsidiary Zijin Gold International, has entered into an agreement to acquire the Raygorodok Gold Mine project in Kazakhstan from Cantech S.à.r.l. for USD 1.2 billion. The acquisition, which includes both the mine and processing plant assets, is based on a ‘cash-free and debt-free’ valuation and is subject to regulatory approvals. This strategic move is expected to bolster Zijin’s gold production capabilities and strengthen its market presence in the region.
The most recent analyst rating on (HK:2899) stock is a Buy with a HK$21.50 price target. To see the full list of analyst forecasts on Zijin Mining Group Co stock, see the HK:2899 Stock Forecast page.
More about Zijin Mining Group Co
Zijin Mining Group Co. is a prominent player in the mining industry, primarily focusing on the exploration and production of gold and other mineral resources. The company is expanding its market presence through strategic acquisitions and is poised to enhance its industry positioning by acquiring significant mining assets.
YTD Price Performance: 47.55%
Average Trading Volume: 61,534,310
Technical Sentiment Signal: Buy
Current Market Cap: HK$567.3B
For an in-depth examination of 2899 stock, go to TipRanks’ Overview page.