Why is Zijin Mining stock sliding today?

Zijin Mining stock fell nearly 6% to HK$27.74 on Monday after its Q3 2026 earnings report that, despite strong year-over-year growth, came in slightly below analyst expectations.

Zijin said net profit of RMB 18.4 billion grew 26% year-over-year, but fell roughly 4% sequentially, and volumes of gold, copper, and lithium were lower than anticipated. Citi maintained its Buy rating on Zijin and pointed out that copper gross profit contribution had for the first time overtaken gold in the quarter — but acknowledged the miss relative to its own forecasts. The nine-month recurring net profit of RMB 56.8 billion represents approximately 70–71% of full-year consensus, broadly in line with expectations.

Compounding the company-specific pressure, spot gold prices fell sharply today, briefly breaching the $4,000-per-ounce level for the first time since mid-July, dragging Hong Kong-listed gold peers lower across the board.

But the broader Hang Seng index still advanced 0.6%.