UOB Kay Hian maintained a Buy rating for CMOC Group due to its strong 1Q26 net profit of RMB7.76 billion, which was up 96.7% year-on-year and in line with expectations. The positive performance was attributed to higher selling prices, increased copper sales volume, and improved metal trading volume. Despite some cost pressures and uncertainties in cobalt export policies, the company's production met guidance, and the broker raised its earnings forecasts for 2027 and 2028.
