Citi raises the target price for China Molybdenum to HKD 4.3, maintains buy rating.

Jin10 Data, June 26 - Citigroup released a research report indicating that it has raised its earnings forecasts for China Molybdenum (01208.HK) for 2025 to 2027 by 92.5%, 6.5%, and 0.8%, respectively, to 542 million, 746 million, and 1 billion USD, primarily reflecting higher copper price forecasts and a decline in copper C1 cost projections. Considering the strong prices of copper, gold, and silver in the first half of this year, along with Las Bambas’ copper C1 costs in the first quarter performing better than expected and strong operational performance from the mine, Citigroup expects China Molybdenum's net profit for the first half of the year to reach 309 million USD, an increase of 14 times year-on-year and a 1.2 times increase compared to the previous half-year. The firm raised the target price for China Molybdenum from HKD 4.1 to HKD 4.3 and maintained a buy rating.