SEHK:358Metals and Mining
Jiangxi Copper (SEHK:358) Stock Looks Cheap After Profit Jumps 162%
The market has been slowly rewarding Jiangxi Copper in recent months. Today’s Q2 print, however, gives a much punchier story than the modest 30 day gain of about 13% might suggest. The stock closed at HK$39.9 just as the company posted quarterly net income of C¥5,814.3m and basic earnings per share of C¥1.68. The headline is simple: profitability did the heavy lifting this quarter, while the valuation case, with a P/E of 10.2x against an industry level of 13.6x, gives bulls more to argue with...