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China Molybdenum Co (HK:3993)
:3993
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China Molybdenum Co (3993) AI Stock Analysis

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HK:3993

China Molybdenum Co

(3993)

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Outperform 79 (OpenAI - 4o)
Rating:79Outperform
Price Target:
HK$20.00
▲(20.48% Upside)
China Molybdenum Co's strong financial performance and positive earnings call sentiment are the most significant factors contributing to its high score. The company's robust revenue and profit growth, efficient capital management, and strategic advancements in acquisitions and operational improvements support a positive outlook. Technical analysis shows strong momentum, although caution is advised due to potential overbought conditions. Valuation is fair, providing a balanced risk-reward profile.
Positive Factors
Revenue Growth
Consistent revenue growth indicates expanding market presence and effective sales strategies, supporting long-term business sustainability.
Cash Flow Generation
Strong cash flow generation provides financial flexibility, enabling investments in growth opportunities and resilience against economic fluctuations.
Operational Efficiency
Improved operational efficiency, as evidenced by EBITDA growth, enhances profitability and competitive positioning in the industry.
Negative Factors
Trading Business Challenges
Declining trading revenue due to restructuring indicates potential challenges in adapting to market demands, impacting short-term revenue streams.
Cobalt Sales Decline
The decline in cobalt sales, affected by regulatory changes, could limit revenue growth and affect market share in the cobalt segment.
Restructuring Impact
Restructuring efforts, while aimed at long-term efficiency, may temporarily disrupt operations and reduce revenue in the short term.

China Molybdenum Co (3993) vs. iShares MSCI Hong Kong ETF (EWH)

China Molybdenum Co Business Overview & Revenue Model

Company DescriptionCMOC Group Limited, together with its subsidiaries, engages in the mining, beneficiation, smelting, refining, and trading of copper, cobalt, molybdenum, tungsten, niobium, phosphates, and other base and rare metals. The company provides molybdenum oxide, ferromolybdenum, molybdenum and tungsten concentrates, copper concentrate, cobalt hydroxide, ferroniobium, phosphate fertilizer, gold and silver, and other related products. It is also involved in the refining and sale of mineral products; purchase and sale of molybdenum and tungsten products; import and export of goods and technology; and hotel management, consulting, enterprise operating and management, asset management, logistics, and transportation businesses. It has operations in China, Australia, Brazil and the Democratic Republic of the Congo, Switzerland, and internationally. China Molybdenum Co., Ltd. was incorporated in 2006 and is based in Luoyang, the People's Republic of China.
How the Company Makes MoneyChina Molybdenum generates revenue primarily from the mining and sale of molybdenum, tungsten, and copper. The company benefits from a diversified portfolio of mining operations, which allows it to capture value across different stages of the supply chain, from extraction to processing. Key revenue streams include the sale of molybdenum and tungsten concentrates, as well as refined metal products. The company also engages in trading activities, generating additional income through the sale of by-products. Strategic partnerships with other mining and metallurgical companies, along with investments in technological advancements, enhance its operational efficiency and profitability. Market demand for its products, influenced by industrial applications, construction, and electronics sectors, plays a significant role in shaping its earnings.

China Molybdenum Co Earnings Call Summary

Earnings Call Date:Oct 24, 2025
(Q2-2025)
|
% Change Since: |
Next Earnings Date:Mar 19, 2026
Earnings Call Sentiment Positive
The earnings call highlighted strong financial performance with record profits and robust cash flow. The company demonstrated strategic advancements with acquisitions and improvements in operational efficiency, and maintained strong ESG practices. However, there were challenges in the trading business and cobalt sales due to external factors. Overall, the positive aspects outweigh the lowlights, indicating a strong performance outlook.
Q2-2025 Updates
Positive Updates
Record Net Attributable Profit
Net attributable profit hit a record high of CNY8.7 billion in the first half of 2025, representing a 60% year-over-year increase.
Strong EBITDA Growth
EBITDA increased to CNY19.8 billion, marking a 23.8% year-over-year growth, driven by higher commodity prices and improved sales volumes.
Significant Improvement in Gross Profit Margin
The gross profit margin of the mining segment reached 52%, a year-over-year improvement of nearly 6 percentage points.
Successful Acquisition and New Project in Ecuador
The company completed the acquisition of the Ecuadorian gold mine, marking its first gold-focused mine, with production targeted for 2029.
Robust Cash Flow and Reduced Gearing Ratio
Operating cash flow was CNY12 billion, a year-over-year increase of 11.4%, while the gearing ratio decreased to 50.15%.
Improved ESG Performance and Recognition
CMOC maintained an AA MSCI ESG rating and was listed on the Fortune China 2025 ESG Impact List.
Molybdenum and Tungsten Business Growth
The gross margin for molybdenum products increased by 4.5 percentage points to 38.3%, and tungsten sales saw a 7% year-over-year improvement.
Negative Updates
Decline in Trading Business Revenue
The trading business showed a year-over-year revenue decline of 11.44% due to restructuring of low-profit product lines.
Cobalt Sales Decline
Cobalt sales decreased by 9.3% year-over-year, primarily due to an export ban affecting trade.
Company Guidance
During the first half of 2025, CMOC Group Limited focused on organizational upgrades, cost reduction, and efficiency improvements, resulting in a strong financial performance despite a slight year-over-year (YoY) decline in operating revenue to CNY94.8 billion. The mining segment's operating income increased by 25.64%, while the trading business saw a YoY decline due to a restructuring of low-profitability product lines. EBITDA rose by 23.8% to CNY19.8 billion, and net attributable profit reached CNY8.7 billion, marking a 60% YoY increase. Operating cash flow was robust at CNY12 billion, with a gearing ratio reduction to 50.15% and a return on net assets improvement to 11.7%. The copper and cobalt segment contributed 84% of the gross profit in the mining segment, with copper production increasing by 12.7% to 354,000 metric tons and cobalt production rising by 13.1% to 61,000 metric tons. The company's molybdenum, tungsten, and phosphorus operations showed improvements in production, sales, and gross profit margins. CMOC Group also completed the acquisition of the Ecuadorian gold mine for CAD581 million and maintained its commitment to ESG excellence, with a continued AA MSCI rating and initiatives such as community development projects in the Democratic Republic of Congo. The company aims to achieve carbon neutrality by 2050, with plans for significant investments in energy efficiency and clean energy projects.

China Molybdenum Co Financial Statement Overview

Summary
China Molybdenum Co demonstrates strong financial health with robust revenue and profit growth. The company maintains an efficient balance sheet with reduced leverage and strong equity returns. Cash flow generation is impressive, ensuring liquidity and financial stability. Overall, the financial position is strong with positive growth trajectories and efficient capital management.
Income Statement
85
Very Positive
The company shows strong revenue growth with a 14.36% increase from the previous year. Gross profit margin improved significantly to 16.55%, indicating effective cost management. Net profit margin is at 6.35%, showing a healthy bottom line. EBIT and EBITDA margins are robust at 11.86% and 14.73%, respectively, reflecting operational efficiency.
Balance Sheet
78
Positive
The debt-to-equity ratio decreased to 0.42, indicating improved leverage management. Return on equity is strong at 19.06%, suggesting effective use of equity capital. The equity ratio at 41.72% reflects a balanced capital structure. The reduction in total liabilities also strengthens the balance sheet.
Cash Flow
82
Very Positive
Operating cash flow increased significantly, enhancing liquidity. Free cash flow saw substantial growth, supporting financial flexibility. The operating cash flow to net income ratio is strong at 2.39, indicating robust cash-generating ability from operations. Free cash flow to net income ratio at 2.03 further underscores efficient cash conversion.
BreakdownTTMDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue204.98B213.03B186.27B172.99B173.86B112.98B
Gross Profit36.42B35.25B17.83B16.06B16.32B8.45B
EBITDA34.52B31.39B20.17B17.10B17.11B9.01B
Net Income16.79B13.53B8.25B6.07B5.11B2.33B
Balance Sheet
Total Assets178.63B170.24B172.97B165.02B137.45B122.44B
Cash, Cash Equivalents and Short-Term Investments40.17B36.94B39.00B36.88B31.44B24.38B
Total Debt28.95B29.64B50.86B48.35B46.86B47.66B
Total Liabilities89.58B84.29B101.01B102.98B89.19B75.11B
Stockholders Equity73.80B71.02B59.54B51.70B39.85B38.89B
Cash Flow
Free Cash Flow28.54B27.49B2.62B4.94B1.91B870.66M
Operating Cash Flow33.62B32.39B15.54B15.45B6.19B8.49B
Investing Cash Flow3.55B-1.16B-10.66B-7.37B-4.89B
Financing Cash Flow-39.43B-30.57B-8.61B-2.10B7.89B422.30M

China Molybdenum Co Technical Analysis

Technical Analysis Sentiment
Positive
Last Price16.60
Price Trends
50DMA
14.39
Positive
100DMA
11.66
Positive
200DMA
8.76
Positive
Market Momentum
MACD
0.57
Positive
RSI
57.86
Neutral
STOCH
56.82
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:3993, the sentiment is Positive. The current price of 16.6 is above the 20-day moving average (MA) of 15.92, above the 50-day MA of 14.39, and above the 200-day MA of 8.76, indicating a bullish trend. The MACD of 0.57 indicates Positive momentum. The RSI at 57.86 is Neutral, neither overbought nor oversold. The STOCH value of 56.82 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:3993.

China Molybdenum Co Peers Comparison

Overall Rating
UnderperformOutperform
Sector (61)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
79
Outperform
$359.07B15.6127.23%1.67%-2.42%38.68%
71
Outperform
$3.18B8.584.82%6.42%160.79%-28.92%
70
Outperform
HK$33.36B11.8324.57%1.70%60.77%100.45%
61
Neutral
$10.43B7.12-0.05%2.87%2.86%-36.73%
59
Neutral
HK$91.58B-33.27-4.63%3.03%-39.59%69.00%
58
Neutral
HK$34.03B33.6236.46%1.43%31.24%58.18%
51
Neutral
HK$2.12B-14.35%-31.35%-71.37%
* Basic Materials Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
HK:3993
China Molybdenum Co
16.60
9.98
150.91%
HK:1205
CITIC Resources Holdings
0.39
<0.01
1.56%
HK:1091
South Manganese Investment Limited
0.45
-0.02
-5.32%
HK:9696
Tianqi Lithium Corp. Class H
52.55
25.35
93.20%
HK:2245
Lygend Resources & Technology Co., Ltd. Class H
22.38
14.43
181.51%
HK:3939
Wanguo International Mining Group Ltd.
31.64
21.84
222.86%

China Molybdenum Co Corporate Events

China Molybdenum Co Announces Board Composition and Committee Roles
Oct 24, 2025

China Molybdenum Co, a joint stock company incorporated in the People’s Republic of China, has announced the composition of its board of directors and their roles within various committees. The board comprises executive, non-executive, and independent non-executive directors, with specific members assigned to the Audit and Risk, Nomination and Governance, Remuneration, and Strategic and Sustainability Committees. This announcement provides clarity on the governance structure of the company, which is crucial for stakeholders to understand the decision-making framework and oversight within the organization.

The most recent analyst rating on (HK:3993) stock is a Buy with a HK$17.50 price target. To see the full list of analyst forecasts on China Molybdenum Co stock, see the HK:3993 Stock Forecast page.

Leadership Changes at CMOC Group Limited: New Executive Director Proposed
Oct 24, 2025

CMOC Group Limited has announced the resignation of its Executive Director and President, Mr. Sun Ruiwen, and Vice President and Chief Commercial Officer, Mr. Kenny Ives, citing personal work reasons and family commitments, respectively. The company assures that these changes will not affect its daily operations or board functionality. Additionally, Mr. Peng Xuhui has been proposed as a new Executive Director, bringing extensive experience in corporate management and strategic planning, which is expected to bolster the company’s leadership and operational strategies.

The most recent analyst rating on (HK:3993) stock is a Buy with a HK$17.50 price target. To see the full list of analyst forecasts on China Molybdenum Co stock, see the HK:3993 Stock Forecast page.

CMOC Group Limited Reports Strong Profit Growth in Q3 2025 Despite Revenue Dip
Oct 24, 2025

CMOC Group Limited has announced its unaudited financial results for the third quarter ending September 30, 2025. The company reported a slight decrease in operating revenue by 2.36% compared to the same period last year, while total profit and net profit attributable to shareholders saw substantial increases of 64.37% and 96.40%, respectively. The financial report highlights a robust growth in profitability despite a decline in revenue, indicating improved operational efficiency and cost management. This performance may strengthen CMOC’s position in the mining industry and provide positive implications for its stakeholders.

The most recent analyst rating on (HK:3993) stock is a Buy with a HK$17.50 price target. To see the full list of analyst forecasts on China Molybdenum Co stock, see the HK:3993 Stock Forecast page.

CMOC Group Limited Announces Online Briefing Session for 2025 Q3 Results
Oct 22, 2025

CMOC Group Limited has announced an online briefing session for its 2025 third quarterly results, scheduled for October 28, 2025. The session aims to facilitate interaction with investors, allowing them to appraise the company’s performance and operations. Independent non-executive directors and management will participate, providing an opportunity for stakeholders to engage and have their questions addressed.

The most recent analyst rating on (HK:3993) stock is a Buy with a HK$17.50 price target. To see the full list of analyst forecasts on China Molybdenum Co stock, see the HK:3993 Stock Forecast page.

China Molybdenum Co Approves Key Resolutions at 2025 EGM
Oct 15, 2025

China Molybdenum Co, a joint stock company incorporated in the People’s Republic of China, held its 2025 first extraordinary general meeting (EGM) on October 15, 2025, in Shanghai. The meeting saw a significant shareholder turnout, with approximately 68.62% of total issued shares represented. Key resolutions, including the approval of the H Share Restricted Share Scheme and related mandates, were passed with overwhelming support. The EGM proceedings complied with relevant legal and corporate governance requirements, and the voting process was overseen by representatives from shareholders, legal, and auditing firms.

The most recent analyst rating on (HK:3993) stock is a Buy with a HK$17.50 price target. To see the full list of analyst forecasts on China Molybdenum Co stock, see the HK:3993 Stock Forecast page.

CMOC Group Limited Schedules Board Meeting for Quarterly Results
Oct 14, 2025

CMOC Group Limited has announced a board meeting scheduled for 24 October 2025 to discuss and approve the publication of its quarterly results for the nine months ending 30 September 2025. This meeting is significant as it will provide insights into the company’s financial performance and strategic direction, potentially impacting its market positioning and stakeholder interests.

The most recent analyst rating on (HK:3993) stock is a Buy with a HK$16.50 price target. To see the full list of analyst forecasts on China Molybdenum Co stock, see the HK:3993 Stock Forecast page.

CMOC Group Announces 2025 Extraordinary General Meeting
Sep 23, 2025

China Molybdenum Co, operating as CMOC Group Limited, has announced its 2025 first extraordinary general meeting (EGM) to be held in Shanghai, China. The meeting will focus on approving several special resolutions, including the H Share Restricted Share Scheme and related mandates. These resolutions aim to enhance the company’s share management and governance structure, potentially impacting shareholder value and the company’s strategic positioning in the market.

The most recent analyst rating on (HK:3993) stock is a Buy with a HK$13.50 price target. To see the full list of analyst forecasts on China Molybdenum Co stock, see the HK:3993 Stock Forecast page.

China Molybdenum Co Proposes H Share Restricted Share Scheme
Sep 23, 2025

China Molybdenum Co, a company incorporated in the People’s Republic of China, has proposed the adoption of an H Share Restricted Share Scheme. This initiative aims to align key personnel with the company’s long-term goals, recognize high-performing employees, and attract talent. The scheme involves issuing new shares and requires shareholder approval. It is designed to deepen the connection between the company and its employees, ensuring a strong talent foundation for strategic and operational objectives.

The most recent analyst rating on (HK:3993) stock is a Buy with a HK$13.50 price target. To see the full list of analyst forecasts on China Molybdenum Co stock, see the HK:3993 Stock Forecast page.

China Molybdenum’s Earnings Call Highlights Record Profits
Sep 2, 2025

The recent earnings call of China Molybdenum (CMOC) painted a largely positive picture, underscored by record profits and a robust cash flow. The company reported strategic advancements through acquisitions and operational efficiencies, while maintaining strong ESG practices. Despite facing challenges in the trading business and cobalt sales due to external factors, the overall sentiment was optimistic, suggesting a strong performance outlook.

China Molybdenum Reports Record Profits Amid Strategic Expansion
Aug 23, 2025

China Molybdenum (CMOC) is a leading global mining company engaged in the production and trading of non-ferrous metals, including copper, cobalt, molybdenum, tungsten, and niobium, with operations spanning across Asia, Africa, South America, Oceania, and Europe. In its latest interim earnings report for the first half of 2025, CMOC announced a record high net profit attributable to the parent company of RMB 8.671 billion, marking a significant 60.07% increase year-on-year. The company’s operating revenue reached RMB 94.773 billion, while operating cash flow increased by 11.40% to RMB 12.009 billion, demonstrating robust financial performance and liquidity. Key highlights include the completion of more than half of the annual production targets for all major products, with notable increases in copper and cobalt output, and strategic expansion into gold resources through the acquisition of the Cangrejos Gold Mine in Ecuador. Looking forward, CMOC aims to enhance its global business layout and maintain its competitive edge through continued organizational upgrades, technological innovations, and a focus on sustainable practices, as reflected in its strong ESG ratings.

CMOC Group Limited Releases Interim Financial Results for H1 2025
Aug 22, 2025

CMOC Group Limited announced its unaudited consolidated financial results for the first half of 2025, prepared in accordance with the relevant disclosure requirements of the Hong Kong Stock Exchange. The results have been reviewed by the company’s audit and risk committee, ensuring compliance with accounting standards. The interim report, which will be available to shareholders and on the company’s website, highlights the company’s commitment to transparency and accurate financial reporting. However, the report has not been audited, and no profit distribution or capital conversion from capital reserve has been proposed for the reporting period.

The most recent analyst rating on (HK:3993) stock is a Buy with a HK$10.00 price target. To see the full list of analyst forecasts on China Molybdenum Co stock, see the HK:3993 Stock Forecast page.

CMOC Group Limited Announces Interim Results Briefing Session
Aug 15, 2025

CMOC Group Limited has announced a briefing session to discuss its interim results for the first half of 2025. The session, scheduled for August 25, 2025, will be conducted online via the SSE Roadshow platform, allowing investors to engage with the company’s management and independent directors. This initiative aims to enhance transparency and provide stakeholders with insights into the company’s performance and future prospects.

The most recent analyst rating on (HK:3993) stock is a Buy with a HK$8.00 price target. To see the full list of analyst forecasts on China Molybdenum Co stock, see the HK:3993 Stock Forecast page.

CMOC Group Limited Announces Upcoming Board Meeting for Interim Results
Aug 12, 2025

CMOC Group Limited has announced a board meeting scheduled for August 22, 2025, to discuss and approve the interim results for the first half of the year ending June 30, 2025. This meeting is significant for stakeholders as it will provide insights into the company’s performance and strategic direction for the upcoming months.

The most recent analyst rating on (HK:3993) stock is a Buy with a HK$8.00 price target. To see the full list of analyst forecasts on China Molybdenum Co stock, see the HK:3993 Stock Forecast page.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Oct 31, 2025