China Molybdenum Co Ltd Class A (603993) Fair Value & Analysis
Basic Materials · CN · Market cap 383B CNY (≈ $57.2B) · ISIN CNE100001NR0
What is China Molybdenum Co Ltd Class A really worth?
A solid business, but trading 14% above our fair value of ¥16.15.
Strengths
Risks
For context
Fair value as of: Aug 26, 2026
From 26 valuation models · updated 10 days ago
Fair value updated Aug 26, 2026, revised from ¥19.80 to ¥16.15 (−18.4%) since Aug 13, 2026. Share price −9.7% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- The model range is unusually wide (¥12.11 to ¥39.43). The outcome hinges heavily on assumptions, so read the point estimate with caution.
- Solid but not exceptional quality (64/100) and above fair value, neither a clear bargain nor a standout compounder.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 26, 2026.
How to read this chart
60‑month range ¥4.09 – ¥27.03 · fair‑value band ¥12.11 – ¥39.43 · the ¥18.48 price screens above the ¥16.15 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 26, 2026.
Analysis
China Molybdenum Co Ltd Class A (603993) currently trades at ¥18.48, while our model-based Fair Value estimate is ¥16.15, implying the stock looks roughly 14.4% overvalued today. The Quality Score stands at 64/100 (solid quality), in the Basic Materials sector. Bull case: the Growth Earnings group reads highest at a median of ¥30.33 per share, and 18 of the 26 models we run sit above the ¥18.48 price. Bear case: the Asset-Based group reads lowest at ¥2.58, and 8 of the 26 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, China Molybdenum Co Ltd Class A generated revenue of 227B CNY at a net margin of 10.6%. Revenue grew 44.3% year over year. It earns a return on equity of 28.8%. The balance sheet holds a net cash position of 377M CNY. Fundamentals as of Aug 26, 2026
Our scenario range runs from ¥12.11 (bear case) to ¥39.43 (bull case); at ¥18.48, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 36% below its 52-week high and 149% above its 52-week low, currently below its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at −37% fair-value upside, at −13%, 603993 screens cheaper than that median.
Fair Value models
This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly ¥0.4512 per share, which is 2.8 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.
All 26 models by family
Widest divergence: Growth Earnings (¥30.33) versus Asset-Based (¥2.58). Highest evidence: FCF DCF (74).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 26, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 61 · Market factors (momentum, volatility) 50
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
CMOC Group Limited, together with its subsidiaries, engages in the mining, beneficiation, and smelting of base and rare metals in Asia, Africa, South America, and Europe.
Full company description
CMOC Group Limited, together with its subsidiaries, engages in the mining, beneficiation, and smelting of base and rare metals in Asia, Africa, South America, and Europe. It operates through Molybdenum and Tungsten Related Products; Niobium and Phosphorus Related Products; Copper-Cobalt Related Products; Mineral and Metal Trade; Refined Metals Trade; and Others segments. The company offers copper, gold, cobalt, molybdenum, tungsten, and niobium; and phosphate fertilizer. It also engages in trading in base metals, and molybdenum and tungstenic products; selection, processing, refining, and sale of mineral products; import and export of goods and technology; consulting; asset and investment management; enterprise operation and management; technology services; logistics transportation; technical services and software development; and hotel operation activities. The company was formerly known as China Molybdenum Co., Ltd. and changed its name to CMOC Group Limited in June 2022. CMOC Group Limited was founded in 1969 and is based in Luoyang, the People's Republic of China.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
China Molybdenum Co Ltd Class A reported revenue of 207B CNY in FY2025 versus 174B CNY in FY2021, a compound +4.4%/yr. Reported net income was 20.3B CNY in FY2025, compounding +41.3%/yr from FY2021.
of which total revenue +48.0 % · buybacks/dilution −3.5 %
Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).
603993 screens 14% overvalued. Compare with BHP Group →
Peer Group
Other Industrial Metals & Mining · 469 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Other Industrial Metals & Mining median · lower = cheaper
Strength profile in five axes (Snowflake)
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Other Industrial Metals & Mining stocks, each showing price versus our Fair Value estimate (as of Aug 26, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| BHP Group BHP | A$66.84 | A$42.16 | −37% |
| Vale S.A VALE | $15.31 | $8.95 | −42% |
| Saudi Arabian Mining Company 1211 | 65.50 SAR | 33.87 SAR | −48% |
| CMOC Group 3993 | HK$17.30 | HK$18.92 | +9% |
| Teck Resources Limited TECK | $69.34 | $32.02 | −54% |
| Hindustan Zinc Limited HINDZINC | ₹573.00 | ₹508.34 | −11% |
| China Tungsten And Hightech Materials Co 000657 | ¥66.76 | ¥9.55 | −86% |
| China Northern Rare Earth (Group) High-Tech Co 600111 | ¥41.02 | ¥10.59 | −74% |
| Western Mining Co 601168 | ¥37.85 | ¥25.99 | −31% |
| Boliden AB BOL | kr 527.80 | kr 461.48 | −13% |
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