On July 15, China Nonferrous Mining rose 3.18% in regular trading, trading at HKD 13.01 per share, with turnover of HKD 123 million.
On the news front, the company released a positive profit alert on July 14, forecasting attributable profit of approximately USD 420 million for the first half of the year, representing a year-over-year increase of approximately 60%. Management attributed the earnings growth primarily to rising international copper prices and higher sulfuric acid prices. The company had already reported Q1 attributable profit of USD 201 million, up 63% YoY, providing strong fundamental support.
Institutional research notes that copper stocks are currently in a phase characterized by low price-to-earnings ratios combined with high EPS resilience, having entered an EPS-driven cycle. Analysts suggest August to September could serve as the primary window for a valuation recovery in oversold copper equities.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
Comments