CICMOLY@EC2611A

HSBC Maintains Buy Rating on CMOC, Sets Target Price at 25.30 HKD

JPMorgan Cuts Stake in CMOC by 2.139 Million Shares

LuoYang Molybdenum Group Authorized to Use Internal Funds for Deposits and Wealth Management

LuoYang Molybdenum Will Maintain Normal Production of Cobalt Mines in Congo

LME Announces Odin Mining Project to Commence Production in 2029 at Shareholders' Meeting

Leaders of CMOC Reassured Shareholders That Mining Dispute In Brazil Has No Impact on Operation

Ecuadorian Government Signs Agreement with LMining's ODIN for Los Cangrejos Project

UOB Kay Hian Cuts Target Price on CMCO but Maintains Buy Rating

Huatai Securities Maintains Buy Rating for 洛阳钼业

Morgan Stanley Analyzes Luoyang 钼业's Q1 2026 Performance

Citibank Raises Target Price and Net Profit Predictions for Luoyang Mining

CMOC released FY2026 Q1 earnings on April 24 After-Market (BJT), actual revenue HKD 75.28 B, actual EPS HKD 0.4081 (forecast EPS HKD 0.2735)

LuoYang Molybdenum's Revenue and Net Profit Soared in Q1 2026

CMOC to Release FY2026 Q1 Earnings on April 24 After-Market (BJT), Forecast EPS HKD 0.2735

JPMorgan Reduced Its Holding of CMOC to 6.93%

Goldman Sachs Raises China Aluminum's Rating and Target Price

CMOC Plans to Hold AGM to Authorize Share Repurchase

BOC International Raises Target Price and Rating for Luoyang 钼业

LuoYang Molybdenum Co. Announces 50.3% Profit Growth in 2025, Declares Final Dividend

RADIANCE HLDGS

ANCHORSTONE

RIVERINE CHINA

REACH NEW HLDGS

FINELAND LIVING

NUR HOLDINGS

GOLDEN LEAF INT

UBOT HOLDING

MAN YUE TECH

603993

03993

HSBC analyst maintained a Buy rating on CMOC Group yesterday and set a price target of HK$25.30.Claim 55% Off TipRanksUnlock hedge fund-level data and powerful investing tools for smarter, sharper decisions Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks CMOC Group has an analyst consensus of Strong Buy, with a price target consensus of HK$24.52.

Tip Ranks

CMOC

HSBC HOLDINGS

HSBC

HSBC 5xShortSG241213

HSBC Holdings Plc

CMOC Group (CMCLF): New Buy Recommendation for This Basic Materials Giant

01258

02899

512400

561330

159871

159881

159876

159880

516650

Yesterday, China Nonferrous Mining's stock price surged by 4.46%, with a trading volume reaching HKD 260 million, clearly indicating a pattern of rising volume and price. The MACD daily bullish signal has strengthened, and short-term momentum indicators are diverging upwards, which is typically interpreted by the market as a precursor to the initiation of a phase of main upward trend. On the market, the stock opened high and maintained a strong performance throughout the day, with no significant profit-taking observed at the close, highlighting the characteristics of bullish control. On the news front, the recent continuous rise in copper prices has become the biggest driving force. Zijin Mining rose by 2.31% yesterday, MMG surged by 7.32%, and CMOC increased by 2.61%, with the non-ferrous metal sector showing strong performance across the board, creating a powerful linkage effect. Although the news of the U.S. and Iran nearing a ceasefire memorandum has temporarily suppressed oil prices, industrial metals like copper benefit more from the global manufacturing recovery expectations and the long-term demand growth brought about by the energy transition. At the same time, China's steady growth policies continue to be reinforced, with infrastructure and power grid investments providing rigid support for copper demand. Resource stocks are being favored by funds outside of technology-focused stock selection funds during the ceasefire market. On the technical side, the current 5-day moving average is accelerating upwards, forming a bullish arrangement diverging upwards from the 10-day moving average, with the stock price effectively breaking through the recent consolidation platform. Trading volume has expanded to more than 1.5 times the average trading volume of the past 5 days, indicating a stronger influx of funds than typical rebounds. Within the sector, MMG and Zijin Mining are both strengthening simultaneously, forming a collective breakthrough in the copper mining sector. The short-term trend is biased towards bullish, with good alignment of volume and price, and clear sector resonance

Technical Forecast

CHINFMINING

ZIJIN MINING

Zijin Mining

China Southern CSI SWS Non-Ferrous Metal ETF

Guotai CSI Non-Ferrous Metal Kuangye Theme ETF

Yinhua CSI Non-ferrous Metal ETF

Guotai CSI Non-ferrous Metal ETF

Hwabao WP CSI Non-ferrous Metal ETF

Penghua Guozheng Non-ferrous Metal Industry ETF

ChinaAMC CSI Subdivision Non-ferrous Metal Sub-Industry ETF

Pre-market trend | CHINFMINING (1258.HK) surged over 4% on May 7, are resource stocks back in action?

Yesterday, CMOC closed at HKD 17.95, up 1.99%, after briefly reaching a high of HKD 18.2 during the session before retreating. It opened at HKD 17.88 with a gap up, but the upward momentum quickly weakened above HKD 18, and it failed to hold the intraday high by the end of the session. The MACD daily chart has shown bearish signals, indicating a phase of diminishing upward momentum in the short term, and the previously sustained bullish trend is facing a directional test. The total trading volume for the day was approximately HKD 262 million, with average trading volume and no significant signals of new capital inflow. On the news front, the global non-ferrous metals market has recently been in a state of mixed bullish and bearish sentiment. On one hand, figures like Dalio have warned of rising global macro risks, with geopolitical conflicts and debt issues potentially triggering systemic volatility; on the other hand, if the situation in the Middle East sees a phase of easing, the safe-haven premium for industrial metals like copper and molybdenum may narrow. Trump announced a "freedom of navigation" plan for the Strait of Hormuz, and if shipping routes return to normal, the tension in the global commodity supply chain may ease, leading to uncertainty in sentiment for diversified mining companies like CMOC in the short term. Additionally, strong GDP growth in Hong Kong for the first quarter provides some bottom support for the Hong Kong stock market from a macro perspective. Technically, the HKD 18 level has constituted resistance for several consecutive days, and yesterday's unsuccessful attempt to break through further confirmed the effectiveness of this resistance. The 5-day moving average is around HKD 17.6-17.7, still about 2% away from yesterday's closing price, indicating weak short-term support

Ganfeng Lithium

GANFENGLITHIUM

Pre-market trend | CMOC (3993.HK) faced resistance and retreated on May 4, is the upward momentum weakening?

CMOC Group has received board authorization to utilize up to RMB20 billion of internal funds for short-term structured deposits and an additional RMB20 billion for wealth management products to enhance cash returns. The chairman or CFO is also authorized to provide guarantees for subsidiary loans and liabilities, capped at RMB90 billion. These actions aim to optimize cash management and support subsidiary financing, potentially improving liquidity. The latest analyst rating for CMOC Group (HK:3993) is a Buy with a price target of HK$25.00.

CMOC Group Authorizes Massive Cash Management Investments and Subsidiary Guarantees

CMOC Group Limited has announced its final cash dividend for the year ended 31 December 2025, set at RMB 2.86 per 10 shares (HKD 3.2643). Shareholders approved the dividend on 28 April 2026, with key dates including the ex-dividend date on 18 May and payment on 24 June 2026. The announcement details tax obligations for H share investors and clarifies share register arrangements. Analysts rate the stock as a Buy with a target price of HK$25.00, and the company has a market cap of HK$461.7B.

CMOC Group Updates 2025 Final Dividend Details and Tax Arrangements

Luoyang Molybdenum has signed a USD1.7 billion agreement with Ecuador to develop a gold mine project in El Oro Province. The project, still in the design phase, is expected to yield economic benefits of approximately USD4.4 billion for Ecuador, including royalties and taxes. Luoyang Molybdenum's local subsidiary, ODIN Mining del Ecuador SA, will oversee the development of the Los Cangrejos deposit, acquired through the purchase of Lumina Gold last year. The agreement aims to expedite the project's implementation.

AASTOCKS News

Luoyang Molybdenum  Agrees USD1.7B to Develop Gold Mine Project in Ecuador

SCCO

UBS has raised its target price for CMOCfrom HKD26.8 to HKD30.5, a 14% increase, following solid 1Q26 results where net profit reached RMB7.8 billion, up 97% YoY. This profit represents 27% of UBS's full-year forecast and 25% of market consensus. The bank also increased its earnings forecasts for CMOC by 4%, citing improved operating performance and higher price projections for copper, cobalt, and gold. UBS reiterated its Buy rating on the stock.

Newmont

Southern Copper

JCCL

CMON

Kinross Gold

iShares Copper and Metals Mining ETF

Sprott Junior Copper Miners ETF

Invesco DB TR Base Metals ETF

VanEck Gold Miners ETF

SPDR Gold Shares

Sprott Copper Miners ETF

Global X Copper Miners

VanEck Junior Gold Miners ETF

ChinaAMC Gold ETF

UBS Raises CMOC  TP to HKD30.5; 1Q26 Results Solid

In a report released yesterday, from UOB Kay Hian maintained a Buy rating on CMOC Group, with a price target of HK$26.90.Claim 55% Off TipRanksUnlock hedge fund-level data and powerful investing tools for smarter, sharper decisions Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks CMOC Group has an analyst consensus of Strong Buy, with a price target consensus of HK$24.45.

UOB Kay Hian

New Buy Rating for CMOC Group (CMCLF), the Basic Materials Giant

159608

UOB Kay Hian has cut the target price for CMOC Groupfrom HKD28.6 to HKD26.9 while maintaining a Buy rating. The company reported a net profit of RMB7.76 billion for Q1 2026, a 96.7% increase year-on-year, driven by higher copper sales and trading volumes. Despite cost pressures and uncertainties in cobalt export policies, the broker raised earnings forecasts for 2027 and 2028 by 9% and 8%, respectively, due to improved production and margin expectations.

GF CSI Rare Metals Theme ETF

UOB Kay Hian Cuts CMOC Group  TP to HKD26.9, Raises Earnings Forecasts; Rating Buy

Jefferies reported that CMOCachieved a net profit of RMB7.8 billion in 1Q26, a 97% increase YoY and 28% QoQ, aligning with expectations. Copper output rose 10% YoY to 188,000 tonnes, with full-year guidance maintained at 760,000 to 820,000 tonnes. Cobalt sales were impacted by export procedure issues. Management confirmed sufficient sulphur inventory to support production through 3Q26 despite rising prices. Jefferies maintains a Buy rating on CMOC's H shares with a target price of HKD25 and RMB26 for A shares.

Jefferies Financial

Jefferies: CMOC  1Q26 Results In Line; Continues Cost Control to Tackle Sulphur Price Surge

CICMOLY@EC2611A(29206.HK)

CMOC Group (CMCLF): New Buy Recommendation for This Basic Materials Giant

Pre-market trend | CHINFMINING (1258.HK) surged over 4% on May 7, are resource stocks back in action?

Pre-market trend | CMOC (3993.HK) faced resistance and retreated on May 4, is the upward momentum weakening?

CMOC Group Authorizes Massive Cash Management Investments and Subsidiary Guarantees

CMOC Group Updates 2025 Final Dividend Details and Tax Arrangements