CMOC's (HKG:3993, SHA:603993) attributable profit rose 64% to 13.5 billion yuan in 2024 from 8.25 billion yuan in 2023, according to a Friday filing with the Hong Kong bourse.
Earnings per share at the basic and rare metals miner increased to 0.63 yuan from 0.38 yuan a year earlier. Analysts at Visible Alpha estimated EPS at 0.56 yuan.
Operating income grew 14% to 213 billion yuan from 186.3 billion yuan in the previous year. Visible Alpha analysts forecast revenue at 211.8 billion yuan.
The company declared a final dividend of 2.55 yuan per 10 shares or 0.255 yuan per share. CMOC has yet to announce the payment and record dates.
Meanwhile, CMOC forecasts production of copper to reach 600,000 tonnes to 660,000 tonnes, cobalt at 100,000 tonnes to 120,000 tonnes, molybdenum at 12,000 tonnes to 15,000 tonnes, tungsten at 6,500 tonnes to 7,500 tonnes, niobium at 9,500 tonnes to 10,500 tonnes, phosphate fertilizer at 1.1 million tonnes to 1.3 million tonnes, and physical trading volume at between 4 million tonnes and 4.5 million tonnes.
Shares jumped 3% in Hong Kong during Monday's morning trading.
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