CMOC 3993

Re: China Molybdenum 3993

Postby winston » Fri Dec 04, 2009 12:50 pm

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DJ MARKET TALK: Molybdenum Down; LHT Stake Sale Impact Small-Citi

1218 [Dow Jones] China Molybdenum (3993.HK) down 0.9% at HK$6.45 vs HSI down 1.4%, not reacting much to news company plans to sell 50% equity interest in Luoyang High Tech to Molymet Corp.

"Due to the target's low contribution to earnings and lower margins versus China Moly's mining business, we believe the transaction would not have a substantial impact on China Moly's business and earnings," says Citigroup.

Expects introduction of Molymet would help improve technology, management and marketing, as China-based Molymet is one of biggest moly processing companies in the world; notes, while maximum final appraisal value of Luoyang High Tech cannot exceed CNY500 million, meaning maximum purchase price for 50% of shares cannot exceed CNY250 million, with Moly planning to apply proceeds as general working capital.

Keeps at Hold, target at HK$6.80.

Source: Dow Jones Newswire
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Re: China Molybdenum 3993

Postby winston » Thu Jan 07, 2010 11:28 am

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DJ MARKET TALK: China Molybdenum +3.8%; Prices To Track Metals-GS

1058 [Dow Jones] China Molybdenum (3993.HK) +3.8% at HK$6.81 vs HSI's 0.1% loss, on expectations molybdenum prices will catch up gains in steel prices ahead. Goldman Sachs says while current Asia HRC (hot rolled coil) steel price +9% vs average level in November, molybdenum price has only risen 2% during same period.

"As the molybdenum price usually moves as a laggard to steel product prices, we believe molybdenum is likely to follow the recent rally in steel product prices. We remain positive on our belief that a potential increase in the molybdenum price will lead to share price re-rating."

Keeps Buy call with target at HK$8.20. Stock off its early high of HK$6.90, last traded above HK$7.00 on Sept. 18, 2009.

Source: Dow Jones Newswire
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Re: China Molybdenum (CMOC) 3993

Postby winston » Fri Jul 11, 2014 8:53 pm

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CMOC (03993.HK) 1Q net profit jumps 79.18%
2014-04-27

CMOC (03993.HK) +0.070 (1.566%) Short selling $11.50M; Ratio 14.209% reported financial results of the first quarter.

According to China Accounting Standard, operating income jumped 45.15% yearly to RMB1.632 billion.

Net profit jumped 79.18% to RMB377 million. EPS was RMB7 fen.

Source: AAStocks Financial News
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Re: China Molybdenum (CMOC) 3993

Postby winston » Fri Jul 11, 2014 8:57 pm

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CMOC (03993.HK) rated Buy, target lifted to $3.98 - UBS
2014-02-28

UBS pointed out net profit of CMOC (03993.HK) +0.070 (1.566%) Short selling $11.50M; Ratio 14.209% had jumped 12% yearly to RMB1.17 billion in 2013, topping the bank's forecast by 5%.

Gross margin rose 280 bps to 32.6% over the year.

Productivity of Northparkes copper mine was 5% higher than the bank's estimation.

Target price was raised from $3.82 to $3.98, and rating was retained Buy, thanks to robust business performance.

2014/2015 EPS estimates were lifted by 7.7%/9.2% to RMB0.3 and RMB0.28 respectively.

Source: AAStocks Financial News
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Re: China Molybdenum (CMOC) 3993

Postby winston » Thu Jul 24, 2014 10:17 pm

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7 February 2013

The Listing Committee of The Stock Exchange of Hong Kong Limited (the “Listing Committee”) criticises China Molybdenum Co., Ltd. (the “Company”) (stock code: 3993) for its breach of Rules 14.34, 14A.47 and 14A.52 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (“Exchange Listing Rules”).

http://www.hkexnews.hk/listedco/listcon ... 207467.PDF
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Re: China Molybdenum (CMOC) 3993

Postby winston » Tue Aug 19, 2014 1:25 pm

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<Research Report>CMOC (03993.HK) kept Outperform, target raised to $6 - C Suisse

According to the latest research report by Credit Suisse, the interim profit of CMOC (03993.HK) had jumped 66% to RMB1 billion.

Excluding one-off gains from disposal, net profit rose 36% yearly to RMB829 million, complying with the bank's expectation.

Annual earnings estimate of CMOC was lifted by 5%.

Target price was raised from $4.6 to $6, and rating was kept at Outperform. ~

Source: AAStocks Financial News
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Re: CMOC 3993

Postby winston » Tue Aug 19, 2014 1:54 pm

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<Result Ann>CMOC (03993.HK) interim net profit up 66%
Aug 12, 2014

CMOC (03993.HK) announced the results for the first half of the year ended 30 June.

Operating income jumped 37.8% to RMB3.706 billion, and net profit soared 66% to RMB1,005 million with EPS of RMB19.8 fen.

No interim dividend was declared.
~

Source: AAStocks Financial News
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China Molybdenum 3993

Postby winston » Wed Mar 07, 2018 9:27 am

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Strong Momentum Of Cobalt Prices To Continue; Re-iterate BUY

Cobalt prices have surged another 8% ytd after skyrocketing 119% yoy in 2017, driven by concerns on market deficit due to strong demand from EV and the potential tax hike in DR Congo.

Also, key end-users, like Apple, are actively seeking to purchase cobalt directly from miners with long-term contracts in order to secure supply.

We believe the cobalt market will remain strong this year and the solid demand from EV batteries is still a key driver.

Maintain BUY. Target price: HK$6.78

Re-iterate BUY with a target price of HK$6.78. China Molybdenum posted a 2017 profit alert on 30 Jan 18, reporting 170-190% yoy net profit growth to Rmb2.7b-2.9b, in line with our forecasts.

We maintain our current forecast unchanged with EPS CAGR of 42% in 2017-20F. Our target price is based on the life-of-mine DCF method with assumption (unchanged) of WACC of 8.0%, risk-free rate of 3.96%, and market premium of 9.9% and beta of 0.85.


Source: UOBKH

https://research.uobkayhian.com/content ... 5bb30e5d60
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Re: CMOC 3993

Postby winston » Wed Jun 13, 2018 1:34 pm

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Apr 31, 2018

<Research Report>CICC: CMOC 1Q Results Beat, Keeps Benefiting from Cobalt Price Bulge

CICC stated in its report that CMOC(03993.HK)'s 1Q18 net profit increased 1.6 times, representing 38% quarterly growth, ahead of estimates.

The main drive was bulge in cobalt prices and production volume.

The broker raised 2018-19 EPS forecasts by 23% and kept Recommend on the H-shares of the company at the target price $8.4 unchanged.

Source: AAStocks Financial News
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Re: CMOC 3993

Postby winston » Wed Jun 13, 2018 1:37 pm

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Apr 4, 2018

CMOC: Molybdenum Demand Growth Promising; 2018 Molybdenum Output Guidance 13,500-14,900 Tons

Li Chaochun, Chairman of CMOC (03993.HK), said at the results conference that the era which saw 15-20% demand growth in molybdenum may not come back but there was still 8.5-9% growth last year, representing a relatively promising demand growth.

Li added that the production guidance this year was 13,500-14,900 tons of molybdenum and 11,000-12,000 tons of tungsten etc..

Source: AAStocks Financial News
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