Movement Alert|JIANGXI COPPER Rises 3.04% in Regular Trading, Copper Sector Extends Rebound as Interim Results Review Approaches

Market Focus
Aug 21

On August 21, JIANGXI COPPER rose 3.04% in regular trading, trading at 37.24 HKD/share, with turnover of approximately 33.06 million HKD. The move was driven by a continued rebound across the copper sector following recent oversold conditions, coupled with the approaching board meeting to review interim results.

The copper sector extended its recovery after consecutive pullbacks last week triggered by profit-taking in international copper futures. Peers including CDAYENONFER gained 2.9% and CHINFMINING rose 2.86%, reflecting sustained repair sentiment. JIANGXI COPPER had previously fallen over 6% across two trading sessions before this rebound began.

Additionally, the company's board is scheduled to convene on August 25 to review its interim results for the six months ended June 30. Citi has initiated a 30-day positive catalyst watch on the stock, maintaining a Buy rating with a target price of 49.5 HKD. The bank expects copper prices to reach 14,500 USD per ton within three months and estimates that every 10% rise in copper prices would increase the company's net profit by approximately 8%, providing a constructive backdrop ahead of the earnings review.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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