[THE INVESTOR] Korea Zinc
(010130) will remain on an upturn until next year, said IBK Securities on Oct. 12, raising the target price to 680,000 won (US$600.07) from 620,000 won.
Its third-quarter revenue will rise 15 percent on-year to 1.68 trillion won and operating profit will surge 64 percent to 263.0 billion won, estimated analyst Han Yu-geon.
Its earnings will continue to grow on the back of rising zinc sales and strong prices, forecast the analyst. Revenue and operating profit for the whole year will reach 6.64 trillion won with operating profit of 1 trillion won. They will be slightly higher next year, according to Han.
It will not only grow in size but its margins will also increase, noted the analyst maintaining a “buy” recommendation.
By Hwang You-mee (email@example.com