On September 8, CMOC rose 4.22% in regular trading, trading at 17.03 HKD/share, with turnover of 38.5642 million HKD. The move was driven by a confluence of a fresh broker upgrade and the dividend record date for the company's interim distribution.
CITIC Construction Investment Securities issued a new research report assigning CMOC a Buy rating, noting the company's earnings growth has accelerated further on top of an already high base, with performance on track to set a record high for the sixth consecutive year. In the first half, CMOC reported revenue of 135.32 billion RMB, up 42.78% year-over-year, and net profit attributable to shareholders of 16.152 billion RMB, surging 86.27%. Q2 attributable net profit reached 8.392 billion RMB, up 78% YoY and 8% QoQ. The consensus among 14 institutions over the past 90 days points to a mean target price of 22.87 RMB, with 8 Buy and 6 Outperform ratings.
September 8 also marks the equity registration date for the company's interim cash dividend of 0.095 RMB per share (tax inclusive), totaling approximately 2.032 billion RMB, with the ex-dividend and payment date set for September 9. This represents CMOC's first-ever interim distribution, underpinned by its copper-gold dual-engine strategy and continued global mine ramp-ups.
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