Citibank: Maintaining Minmetals Resources (01208) “Buy” Rating and Raising the Target Price to HK$12

The Zhitong Finance App learned that Citi released a research report stating that it updated the Minmetals Resources (01208) model to reflect the results of the first half of 2026 and the latest management guidelines, and raised the 2026-2028 profit forecast by 3.7%, 36.3% and 14.6%, respectively, to 1,769 billion yuan, 2.154 billion and 1,861 billion US dollars. The bank raised the target price of Minmetals resources from HK$11.2 to HK$12, mainly driven by higher copper price predictions and lower Las Bambas copper C1 cost assumptions. Maintain a “buy” rating.