CMOC's stock price surged 8.51% during intraday trading on Wednesday, marking a significant rebound for the mining company.

The sharp rise follows BOC International's decision to upgrade CMOC's rating from "Hold" to "Buy" and raise its target price by 10.6% to HK$18.76. The bank revised its core earnings per share forecasts for 2026-2027 upward by 7-9%, citing CMOC's strong 2025 profit growth of 50% year-on-year to RMB 20.3 billion. BOC International anticipates a 71% year-on-year profit increase in 2026, driven by higher copper output, rising copper and tungsten prices, and contributions from newly acquired gold assets. The upgrade comes after the stock declined 34% over the past four weeks, which the report noted had restored its investment appeal.