Ruijin mining market rises 2.75% Citigroup bid to see HK $7.7
Source: Internet
Author: User
KeywordsNet profit HK $ Citi RMB
Ruijin Mining (00246-HK) was up 2.75%, reported 7.09 Hong Kong dollars, a deal of 3.7475 million shares, the stock is currently winning the big city, the index fell 2.26%. The net profit for the first quarter of 09 was 71.82 million yuan, with a loss of 5.32 million yuan a year earlier. Citi maintained the buying rating of the unit at a target price of HK $7.70. The bank said net profit in the first quarter accounted for 27% of the bank's 09 per cent profit forecast for the Ruijin mining sector, adding that the Ruijin mining sector had a net profit of 45% per cent in the first quarter, and the bank's forecast for fiscal year 09 was 38%. Citi said the Ruijin mining market is attractive, sales are growing and there are mergers and acquisitions. Added that valuations are below Chinese peers
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