CMOC Group (603993) Fair Value & Analysis
Basic Materials · CN · Market cap 383B CNY
Fair value as of: Aug 13, 2026
From 26 valuation models · updated yesterday
Fair value updated Aug 13, 2026, revised from ¥16.15 to ¥19.80 (+22.6%) since Jul 16, 2026. Share price +1.1% over the past month.
A solid business, currently priced close to our fair value.
What matters now
- The model range is unusually wide (¥14.85 to ¥48.34). The outcome hinges heavily on assumptions, so read the point estimate with caution.
- The price sits close to our fair value, market and models broadly agree here, little valuation tension.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.
How to read this chart
60‑month range ¥4.09 – ¥27.03 · fair‑value band ¥14.85 – ¥48.34 · the ¥18.41 price screens below the ¥19.80 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.
Analysis
CMOC Group (603993) currently trades at ¥18.41, while our model-based Fair Value estimate is ¥19.80, implying the stock looks roughly 7.6% fairly valued today. The Quality Score stands at 64/100 (solid quality), in the Basic Materials sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: medium), always confirm before acting.
Over the trailing twelve months, CMOC Group 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 13, 2026
Our scenario range runs from ¥14.85 (bear case) to ¥48.34 (bull case); at ¥18.41, 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 148% above its 52-week low, currently below its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -40% fair-value upside, at 8%, 603993 screens cheaper than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted 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.
All 26 models by family
Widest divergence: Growth Earnings (¥30.33) versus Asset-Based (¥2.58). Highest evidence: Growth DCF (80).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 61 · Market factors (momentum, volatility) 49
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.
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
CMOC Group reported revenue of ¥207B in FY2025 versus ¥174B in FY2021, a compound +4.4%/yr. Reported net income was ¥20.3B in FY2025, compounding +41.3%/yr from FY2021.
of which total revenue +48.0 pp · buybacks/dilution −5.1 pp
Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).
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Peer Group
Other Industrial Metals & Mining · 480 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
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.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Other Industrial Metals & Mining stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| BHP Group BHPN | 1,425 MXN | 745.46 MXN | -48% |
| Rio Tinto Group RIO | A$179.43 | A$81.76 | -54% |
| Grupo México, S.A. GMEXICOB | 222.38 MXN | 172.99 MXN | -22% |
| Vale S.A VALE | $14.89 | $8.95 | -40% |
| Saudi Arabian Mining Company 1211 | 58.05 SAR | 33.87 SAR | -42% |
| China Tungsten And Hightech Materials Co 000657 | ¥70.43 | ¥9.55 | -86% |
| Hindustan Zinc Limited HINDZINC | ₹584.60 | ₹501.98 | -14% |
| China Northern Rare Earth (Group) High-Tech Co 600111 | ¥41.02 | ¥10.59 | -74% |
| Boliden AB BOL | kr 527.80 | kr 461.48 | -13% |
| Western Mining Co 601168 | ¥38.36 | ¥25.99 | -32% |
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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