<div id="readability-page-1"><div><p>Citi issued a research report stating that CMOC (03993.HK)<span> </span><span> -0.520 (-2.763%)  </span> <span> Short selling $177.15M; Ratio 28.165%  </span> 's net profit for 1Q26 increased 97% YoY to RMB7.8 billion, up 28% QoQ, accounting for 24% and 22% of market and the banks full-year forecasts, respectively, broadly in line with expectations. Core net profit during the period was RMB7.5 billion, up 91% YoY and 28% QoQ. Earnings growth was mainly driven by higher copper and tungsten prices, as well as contributions from the acquisition of a Brazilian gold mine in January.</p><p>Citi raised its net profit forecasts for CMOC for 2026 and 2027 by 3.2% and 10.5% to RMB34.9 billion and RMB35.1 billion, respectively, to reflect higher cobalt, molybdenum and tungsten price forecasts, as well as higher copper production estimates. The TP was lifted from HKD28.3 to HKD29.3, with the Buy rating maintained. (ec/j)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-04-24 16:25.)</p></div><p>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.</p></div>

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<p>Citi has raised its target price for CMOCfrom HKD28.3 to HKD29.3 while maintaining a Buy rating. The company's net profit for Q1 2026 surged 97% year-on-year to RMB7.8 billion, driven by higher copper and tungsten prices and contributions from a recent acquisition. Citi also increased its net profit forecasts for CMOC for 2026 and 2027 by 3.2% and 10.5%, respectively, reflecting improved price forecasts for cobalt, molybdenum, and tungsten, as well as higher copper production estimates.</p>

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Citi Raises CMOC  TP to HKD29.3, Maintains Buy Rating