CMOC Group Limited reported first-quarter 2026 net profit of RMB 7.8 billion, meeting expectations. This compares to net profits of RMB 3.9 billion in the first quarter of 2025 and RMB 6.1 billion in the fourth quarter of 2025. The strong performance was primarily driven by increased contributions from tungsten and molybdenum amid high prices, while the gold business remained stable despite a decline in copper sales volume. Morgan Stanley has reaffirmed its "Overweight" rating on the stock with a target price of HK$26.3.
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