Citi: China Molybdenum (03993.HK) Q3 EBIT slightly below expectations; maintains "Buy" rating

Zhitong Finance APP has learned that Citi issued a research report stating that China Molybdenum (03993.HK) achieved a net profit of RMB 24 billion in the first nine months of this year, up 68% year on year, equivalent to 70% and 73% of the bank's full-year forecast and market expectations, respectively. The bank maintained its "Buy" rating and HK$29 target price, believing that the company's H-share current price corresponds to forecast price-to-earnings ratios of 6.9 times and 6.4 times for 2026 and 2027, respectively, and that the valuation is attractive.