The investors in Chifeng Jilong Gold Mining Co.,Ltd.'s (SHSE:600988) will be rubbing their hands together with glee today, after the share price leapt 21% to CN¥17.44 in the week following its annual results. Chifeng Jilong Gold MiningLtd reported in line with analyst predictions, delivering revenues of CN¥7.2b and statutory earnings per share of CN¥0.49, suggesting the business is executing well and in line with its plan. This is an important time for investors, as they can track a company's performance in its report, look at what experts are forecasting for next year, and see if there has been any change to expectations for the business. So we gathered the latest post-earnings forecasts to see what estimates suggest is in store for next year.

After the latest results, the ten analysts covering Chifeng Jilong Gold MiningLtd are now predicting revenues of CN¥9.14b in 2024. If met, this would reflect a huge 27% improvement in revenue compared to the last 12 months. Statutory earnings per share are predicted to bounce 82% to CN¥0.89. Yet prior to the latest earnings, the analysts had been anticipated revenues of CN¥8.22b and earnings per share (EPS) of CN¥0.74 in 2024. There has definitely been an improvement in perception after these results, with the analysts noticeably increasing both their earnings and revenue estimates.

With these upgrades, we're not surprised to see that the analysts have lifted their price target 19% to CN¥21.09per share. The consensus price target is just an average of individual analyst targets, so - it could be handy to see how wide the range of underlying estimates is. Currently, the most bullish analyst values Chifeng Jilong Gold MiningLtd at CN¥26.68 per share, while the most bearish prices it at CN¥18.00. As you can see, analysts are not all in agreement on the stock's future, but the range of estimates is still reasonably narrow, which could suggest that the outcome is not totally unpredictable.

One way to get more context on these forecasts is to look at how they compare to both past performance, and how other companies in the same industry are performing. It's clear from the latest estimates that Chifeng Jilong Gold MiningLtd's rate of growth is expected to accelerate meaningfully, with the forecast 27% annualised revenue growth to the end of 2024 noticeably faster than its historical growth of 10% p.a. over the past five years. By contrast, our data suggests that other companies (with analyst coverage) in a similar industry are forecast to grow their revenue at 10% per year. Factoring in the forecast acceleration in revenue, it's pretty clear that Chifeng Jilong Gold MiningLtd is expected to grow much faster than its industry.

The Bottom Line

The most important thing here is that the analysts upgraded their earnings per share estimates, suggesting that there has been a clear increase in optimism towards Chifeng Jilong Gold MiningLtd following these results. Happily, they also upgraded their revenue estimates, and are forecasting them to grow faster than the wider industry. There was also a nice increase in the price target, with the analysts clearly feeling that the intrinsic value of the business is improving.

With that in mind, we wouldn't be too quick to come to a conclusion on Chifeng Jilong Gold MiningLtd. Long-term earnings power is much more important than next year's profits. We have estimates - from multiple Chifeng Jilong Gold MiningLtd analysts - going out to 2026, and you can see them free on our platform here.

You can also view our analysis of Chifeng Jilong Gold MiningLtd's balance sheet, and whether we think Chifeng Jilong Gold MiningLtd is carrying too much debt, for free on our platform here.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.