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<Research> Huatai Securities Raises CMOC (03993.HK) TP to HKD28.3, Maintains Buy Rating
Huatai Securities released a research report noting that CMOC (03993.HK) announced its results for 1Q26. During the period, revenue reached RMB66.403 billion, up 44.34% YoY and 8.5...
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<Research> Huatai Securities Raises CMOC (03993.HK) TP to HKD28.3, Maintains Buy Rating
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Huatai Securities released a research report noting that CMOC (03993.HK)  -0.570 (-3.029%)    Short selling $262.71M; Ratio 24.837%   announced its results for 1Q26. During the period, revenue reached RMB66.403 billion, up 44.34% YoY and 8.5% QoQ. Net profit attributable to shareholders amounted to RMB7.76 billion, up 96.65% YoY and 28.07% QoQ, while net profit after non-recurring items totaled RMB7.486 billion, up 90.58% YoY. The broker stated that the company is a growth-oriented leading domestic copper miner, a key player in minor metals, and has newly added a gold segment. It maintained a Buy rating on the company.

On costs, the broker said the company has achieved notable results in cost control, with copper costs declining slightly QoQ. However, the US-Israel-Iran conflict has kept sulfur prices on a rapid uptrend. Therefore, it expects copper and phosphate fertilizer costs to rise starting from 2Q26.

Related News UOB Kay Hian Cuts CMOC Group (03993.HK) TP to HKD26.9, Raises Earnings Forecasts; Rating Buy
The broker maintained its earnings forecasts for the group, projecting net profit attributable to shareholders of RMB35.2 billion, RMB38.8 billion, and RMB43.6 billion for 2026 to 2028, respectively. Considering its status as a growth-oriented leading domestic copper miner and its expansion into the gold business, the broker maintained a 35% premium for the companys A shares of CMOC (603993.SH)  -0.370 (-1.910%)   and assigned a 17.2x 2026 price-to-earnings ratio. The A-share TP was raised from RMB26.81 to RMB28.42, while the H-share TP was lifted from HKD26.26 to HKD28.3. (hc/u)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-04-27 16:25.) (A Shares quote is delayed for at least 15 mins.)



This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation.

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