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UBS Group: Assigns a "Buy" rating to CMOC Group Limited (03993) with a Target Price of 8.7 HKD.
UBS Group expects that Luoyang Molybdenum's copper sales volume in the last quarter of last year should be higher than 0.2 million tons.
CMOC Group Forecasts Up to 72% Jump in 2024 Profit on Higher Metal Prices
[Earnings Surprise Stock] CMOC Group Limited (03993) rose 3.29%, expected net income for the full year of 2024 to increase by up to 72.12% year-on-year.
Jinwu Financial News | CMOC Group Limited (03993) issues a profit warning, boosting its stock price in early trading. As of the time of this report, the stock has risen by 3.29%, priced at 5.96 Hong Kong dollars, with a transaction volume of 0.155 billion Hong Kong dollars. According to the profit warning announcement, it is expected that for the fiscal year ending December 31, 2024, the Net income attributable to the company's shareholders will be between 12.8 billion and 14.2 billion yuan, an increase of 55.15% to 72.12% year-on-year. The announcement indicates that the significant year-on-year rise in performance for 2024 is mainly due to the substantial increase in the sales volume of key products, Copper and Cobalt, combined with the rise in Copper product prices and the effectiveness of cost reduction and efficiency improvement measures.
Risks To Shareholder Returns Are Elevated At These Prices For CMOC Group Limited (HKG:3993)
CMOC: Significant Increase in Sales of Copper, Cobalt Products Supported Results >3993.HK
CMOC Expects 2024 Net to Rise Between 55.15% to 72.12% on Year >3993.HK
CMOC Group Limited's (HKG:3993) 28% Share Price Surge Not Quite Adding Up
