Stock Track | Jiangxi Copper Shares Plummet Over 8% After Q3 Profit Slump

Stock Track10-30

Shares of Jiangxi Copper Co., one of China's largest copper producers, plunged over 8% on Tuesday after the company reported a 14% year-over-year drop in net profit for the third quarter, missing market expectations.

According to its latest earnings release, Jiangxi Copper's net profit attributable to shareholders fell to 1.37 billion yuan ($194 million) or 0.40 yuan per share in Q3, down from 1.6 billion yuan a year ago. The company's revenue also declined 6.6% to 123.3 billion yuan over the same period.

The disappointing financial results sent Jiangxi Copper's Hong Kong-listed shares tumbling nearly 8%, while its Shanghai-listed stock fell more than 3% in recent trading. Investors appeared concerned about the slowing growth and profitability of the copper giant amid broader economic headwinds.

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