Morgan Stanley affirms China Molybdenum's (03993.HK) second-quarter earnings preview aligns with projections. The mining giant anticipates first-half net profit between RMB 8.2 billion and RMB 9.1 billion, marking a robust 51% to 68% year-on-year surge. This implies Q2 net earnings of RMB 4.25 billion to RMB 5.15 billion, representing annual growth of 27% to 54%. The midpoint estimate of RMB 4.7 billion closely matches the institution's forecast.
Company leadership attributes this strong profit expansion to rising copper/cobalt prices alongside increased copper sales volumes. Morgan Stanley reiterated its "Overweight" stance on China Molybdenum's H-shares, accompanied by an HK$11.7 price target. The combination of favorable commodity pricing dynamics and operational execution continues to drive the firm's positive performance trajectory.
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