Bank of China International: Lowering the target price of Shandong Gold (01787) to HK$38.04, which is expected to achieve strong growth as production continues

Zhitongcaijing · 2d ago

The Zhitong Finance App learned that Bank of China International released a research report saying that production recovery of Shandong Gold (01787) was slow due to the implementation of strict safety controls and construction disruptions, and lowered the 2026 gold production guidelines, a decrease of 22% to 27%. The bank reaffirmed the “buy” rating of Shandong Gold and lowered the target price to HK$38.04.

The bank lowered its 2026 core earnings per share forecast by 22% after factoring in the company's updated production guidelines. Although the company currently expects net profit to decline in 2026, the 2027 results are expected to grow strongly as production returns to normal.