HK Stock Market Move | CMOC Group Limited (03993) rose by over 3%. Citigroup predicts that the recently acquired assets will contribute 7.1 tons of attributable gold production to the company within the year.

CMOC Group Limited (03993) rose by more than 3%, as of the time of writing, it has risen by 3.65% to HK$23.28, with a turnover of HK$3.12 billion. On the news front, Citigroup released a research report stating that CMOC Group Limited announced the acquisition of Brazilian gold assets in December 2025 and completed the transaction in January 2026. Based on Citigroup's commodity team's forecast of the gold benchmark price of $4,600 per ounce in 2026, the bank expects the asset to contribute 7.1 tons of attributable gold production in 2026, contributing approximately RMB 2.4 billion in net profit, accounting for about 7% of the total net profit. The bank has raised its profit forecasts for CMOC Group Limited in 2025, 2026, and 2027 by 3.8%, 34.2%, and 17.5% respectively, to RMB 20.5 billion, RMB 33.9 billion, and RMB 31.8 billion. Shenwan Hongyuan Group points out that in the short term, due to significant disruptions in copper mine production and tight non-US inventories, copper prices are expected to be strong, with solid fundamental support. In the long term, the growth of electricity grid investments, AI data centers, and relatively rigid copper supply support, the price center is expected to continue to rise. Huayuan Securities stated that in the medium to long term, insufficient capital expenditure in copper mining, frequent disturbances in the supply side, the copper supply and demand balance may shift from tight to shortage, while copper smelting is expected to bottom out in the context of "anti-inner cannibalization". In addition, with the Federal Reserve entering a rate-cutting cycle, copper prices are expected to break through to the upside.