Stock Track | CHINFMINING Soars 5.25% Intraday on Strong Q1 Profit Surge and Elevated Copper Prices

Stock Track09:41

CHINFMINING's stock price soared 5.25% during intraday trading on Wednesday, significantly outperforming the broader market movement.

The surge follows the company's report of estimated first-quarter shareholder profit of approximately USD 201 million, representing a year-over-year increase of roughly 63% and marking a record high for the period. Operational performance was robust, with comprehensive copper output of approximately 549,600 tonnes and a gross margin improvement to 31.1%. Furthermore, a significant surge in sulfuric acid long-term contract prices in the Democratic Republic of Congo (DRC) from previous levels has bolstered earnings expectations for the miner.

The company's performance ranked among the leaders in the copper sector during the session, which saw several peers also trade higher.

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