[Asia Economy Reporter Kwon Jaehee] Korea Zinc recorded a five-day consecutive rise on expectations of strong performance in the second quarter of this year, hitting an intraday record high.
As of 10:01 a.m. on the 6th, Korea Zinc is trading at 621,000 KRW, up 2.64% from the previous trading day.
Korea Zinc has risen for five consecutive trading days since the 31st of last month, reaching an intraday 52-week high of 634,000 KRW early in the session. This is 57.3% higher than the 52-week low of 403,000 KRW recorded on April 5 last year.
The factors behind Korea Zinc's strong stock price include the rise in non-ferrous metal prices, exchange rate increases, and sales growth leading to increased revenue.
Kim Yoonsang, a researcher at Hi Investment & Securities, analyzed, "The operating profit forecast for the first quarter is 269 billion KRW, expected to decrease by 6.1% compared to the previous quarter, but an improvement in second-quarter performance is anticipated due to the strong non-ferrous metal prices."
Hi Investment & Securities raised Korea Zinc's target stock price from 660,000 KRW to 710,000 KRW.
Yuanta Securities also raised Korea Zinc's target stock price from 620,000 KRW to 690,000 KRW.
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