Diversified Metals and Mining

CMOC

Citi Maintains Buy Rating on CMOC with HK$29.3 Target; Copper Output Unaffected by Sulfur Price Hike

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

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

CMOC released FY2026 Q1 earnings on April 24 After-Market BJT, actual revenue CNY 66.4 B, actual EPS CNY 0.36 (forecast EPS CNY -79.66)

CMOC to Release FY2026 Q1 Earnings on April 24 After-Market (BJT), Forecast EPS CNY -79.66

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

Ordinary dividend (cash)

Ex Date: 2026.05.27, Cash dividend 0.286 CNY

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

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?

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

BofAS has maintained a Buy rating on CMOCwith a target price of HKD28, citing cost inflation as a key variable. CMOC reported a 97% YoY increase in net profit to RMB7.76 billion for 1Q26, driven by a copper business gross profit of approximately RMB10 billion, which accounted for 63% of total gross profit. Copper production rose 10% YoY to 188,000 tonnes, with sales of 182,000 tonnes. The company maintains its full-year production guidance of 760,000 to 820,000 tonnes.

Bank of America

BANK OF AMERICA CORPORATION DEP SHS REP 1/1000TH INT NON CUM PFD QQ

BANK OF AMERICA CORPORATION DEP SHS REP 1/1200TH PRF SERIES '5'

BANK OF AMERICA CORPORATION 7.25% NON-CUM PERP CONV PFD SER L

BANK OF AMERICA CORPORATION 5.875%NON CUM DEP SHS REP1/1000TH SER HH

BANK OF AMERICA CORPORATION DEP SHS REP 1/1200TH PRF SERIES '2'

BANK OF AMERICA CORPORATION 5% DEP SHS REPR 1/1000TH NON CUM PFD LL

BANK OF AMERICA CORPORATION DEP SHARES REP 1/1000TH PERP PFD SER 'E'

BANK OF AMERICA CORPORATION INCOME CAPITAL OBLIG NTS DUE 15/12/2066

BANK OF AMERICA CORPORATION 4.375% DP SH RP 1/1000TH IN NON CU PF NN

BANK OF AMERICA CORPORATION DEP SH REP 1/1200TH PRF SER 1 USD25

BANK OF AMERICA CORPORATION 5.375%DEP SHS REP 1/1000TH NON CUM SR KK

BANK OF AMERICA CORPORATION 6%NON CUM DEP SHS EACH REP 1/1000 SER GG

BANK OF AMERICA CORPORATION DEP SHS REP 1/1200 PFD SER 4 USD25

BANK OF AMERICA CORPORATION DEP SHS REP 1/1000TH NON CUM PFD SER SS

BANK OF AMERICA CORPORATION 4.125%DEP SH REP 1/1000 PFD SER PP USD25

Bank of America Corp

BofAS: Cost Inflation Remains Key Variable for CMOC ; Maintains Buy Rating

Huatai Securities has raised the target price for CMOCto HKD28.3 while maintaining a Buy rating. The company reported a 44.34% YoY increase in revenue to RMB66.403 billion and a 96.65% YoY rise in net profit to RMB7.76 billion for Q1 2026. Despite effective cost control, rising sulfur prices due to geopolitical tensions may increase copper and phosphate fertilizer costs. The broker projects net profits of RMB35.2 billion, RMB38.8 billion, and RMB43.6 billion for 2026 to 2028, respectively, and has adjusted the A-share target price to RMB28.42.

Huatai Securities Raises CMOC  TP to HKD28.3, Maintains Buy Rating

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.

Citigroup

CITIGROUP INC 6.250 NON CUM SER II PFD WI

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

CMOC(603993.SH)

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?

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

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

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

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

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

BofAS: Cost Inflation Remains Key Variable for CMOC ; Maintains Buy Rating

Huatai Securities Raises CMOC TP to HKD28.3, Maintains Buy Rating

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

Trending