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China Molybdenum

SEHK:3993
Snowflake Description

Adequate balance sheet with proven track record and pays a dividend.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
3993
SEHK
HK$116B
Market Cap
  1. Home
  2. HK
  3. Materials
Company description

China Molybdenum Co., Ltd., together with its subsidiaries, engages in the mining, smelting, processing, and scientific research of copper, molybdenum, tungsten, cobalt, niobium, phosphate, and other base and precious metals. The last earnings update was 141 days ago. More info.


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3993 Share Price and Events
7 Day Returns
-1.4%
SEHK:3993
1.5%
HK Metals and Mining
2.7%
HK Market
1 Year Returns
-48%
SEHK:3993
-27.2%
HK Metals and Mining
-9.6%
HK Market
3993 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
China Molybdenum (3993) -1.4% 5.5% 11.6% -48% 166.2% 240.3%
HK Metals and Mining 1.5% 5.1% 13.3% -27.2% 28.9% 32.8%
HK Market 2.7% 5.6% 13.2% -9.6% 29.1% 20.9%
1 Year Return vs Industry and Market
  • 3993 underperformed the Metals and Mining industry which returned -27.2% over the past year.
  • 3993 underperformed the Market in Hong Kong which returned -9.6% over the past year.
Price Volatility
3993
Industry
5yr Volatility vs Market
Related Companies

Sorry, no analysis for China Molybdenum's competitors could be found in our database.

3993 Value

 Is China Molybdenum undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of China Molybdenum to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data    Our intrinsic value calculation method has changed recently, learn more here.

Below are the data sources, inputs and calculation used to determine the intrinsic value for China Molybdenum.

SEHK:3993 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 16 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 9.5%
Perpetual Growth Rate 10-Year HK Government Bond Rate 2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for SEHK:3993
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year HK Govt Bond Rate 2%
Equity Risk Premium S&P Global 6%
Metals and Mining Unlevered Beta Simply Wall St/ S&P Global 1.12
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.121 (1 + (1- 25%) (32.23%))
1.263
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.26
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2% + (1.263 * 5.96%)
9.53%

Discounted Cash Flow Calculation for SEHK:3993 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for China Molybdenum is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

SEHK:3993 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CNY, Millions) Source Present Value
Discounted (@ 9.53%)
2019 7,232.00 Analyst x2 6,602.71
2020 6,310.00 Analyst x2 5,259.65
2021 5,747.70 Est @ -8.91% 4,374.07
2022 5,423.71 Est @ -5.64% 3,768.35
2023 5,242.29 Est @ -3.34% 3,325.36
2024 5,151.04 Est @ -1.74% 2,983.16
2025 5,119.24 Est @ -0.62% 2,706.76
2026 5,127.87 Est @ 0.17% 2,475.40
2027 5,164.74 Est @ 0.72% 2,276.25
2028 5,221.76 Est @ 1.1% 2,101.13
Present value of next 10 years cash flows CN¥35,872.85
SEHK:3993 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= CN¥5,221.76 × (1 + 2%) ÷ (9.53% – 2%)
CN¥70,755.55
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CN¥70,755.55 ÷ (1 + 9.53%)10
CN¥28,470.61
SEHK:3993 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CN¥35,872.85 + CN¥28,470.61
CN¥64,343.46
Equity Value per Share
(CNY)
= Total value / Shares Outstanding
= CN¥64,343.46 / 21,599.24
CN¥2.98
SEHK:3993 Discount to Share Price
Calculation Result
Exchange Rate CNY/HKD
(Reporting currency to currency of SEHK:3993)
1.169
Value per Share
(HKD)
= Value per Share in CNY x Exchange Rate (CNY/HKD)
= CN¥2.98 x 1.169
HK$3.48
Value per share (HKD) From above. HK$3.48
Current discount Discount to share price of HK$3.46
= -1 x (HK$3.46 - HK$3.48) / HK$3.48
0.7%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price China Molybdenum is available for.
Intrinsic value
1%
Share price is HK$3.46 vs Future cash flow value of HK$3.48
Current Discount Checks
For China Molybdenum to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • China Molybdenum's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • China Molybdenum's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for China Molybdenum's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are China Molybdenum's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SEHK:3993 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-09-30) in CNY CN¥0.24
SEHK:3993 Share Price ** SEHK (2019-03-19) in HKD HK$3.46
SEHK:3993 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.855 CN¥2.96
Hong Kong Metals and Mining Industry PE Ratio Median Figure of 39 Publicly-Listed Metals and Mining Companies 8.13x
Hong Kong Market PE Ratio Median Figure of 1,494 Publicly-Listed Companies 10.92x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of China Molybdenum.

SEHK:3993 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:3993 Share Price ÷ EPS (both in CNY)

= 2.96 ÷ 0.24

12.35x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • China Molybdenum is overvalued based on earnings compared to the HK Metals and Mining industry average.
  • China Molybdenum is overvalued based on earnings compared to the Hong Kong market.
Price based on expected Growth
Does China Molybdenum's expected growth come at a high price?
Raw Data
SEHK:3993 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 12.35x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 16 Analysts
4.9%per year
Hong Kong Metals and Mining Industry PEG Ratio Median Figure of 15 Publicly-Listed Metals and Mining Companies 0.72x
Hong Kong Market PEG Ratio Median Figure of 468 Publicly-Listed Companies 0.8x

*Line of best fit is calculated by linear regression .

SEHK:3993 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 12.35x ÷ 4.9%

2.53x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • China Molybdenum is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on China Molybdenum's assets?
Raw Data
SEHK:3993 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-09-30) in CNY CN¥2.03
SEHK:3993 Share Price * SEHK (2019-03-19) in HKD HK$3.46
SEHK:3993 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.855 CN¥2.96
Hong Kong Metals and Mining Industry PB Ratio Median Figure of 65 Publicly-Listed Metals and Mining Companies 0.77x
Hong Kong Market PB Ratio Median Figure of 2,137 Publicly-Listed Companies 0.99x
SEHK:3993 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:3993 Share Price ÷ Book Value per Share (both in CNY)

= 2.96 ÷ 2.03

1.45x

* Primary Listing of China Molybdenum.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • China Molybdenum is overvalued based on assets compared to the HK Metals and Mining industry average.
X
Value checks
We assess China Molybdenum's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Metals and Mining industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Metals and Mining industry average (and greater than 0)? (1 check)
  5. China Molybdenum has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

3993 Future Performance

 How is China Molybdenum expected to perform in the next 1 to 3 years based on estimates from 16 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
4.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is China Molybdenum expected to grow at an attractive rate?
  • China Molybdenum's earnings growth is expected to exceed the low risk savings rate of 2%.
Growth vs Market Checks
  • China Molybdenum's earnings growth is positive but not above the Hong Kong market average.
  • China Molybdenum's revenue growth is positive but not above the Hong Kong market average.
Annual Growth Rates Comparison
Raw Data
SEHK:3993 Future Growth Rates Data Sources
Data Point Source Value (per year)
SEHK:3993 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 16 Analysts 4.9%
SEHK:3993 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 16 Analysts 4.9%
Hong Kong Metals and Mining Industry Earnings Growth Rate Market Cap Weighted Average 8.8%
Hong Kong Metals and Mining Industry Revenue Growth Rate Market Cap Weighted Average 3.2%
Hong Kong Market Earnings Growth Rate Market Cap Weighted Average 12%
Hong Kong Market Revenue Growth Rate Market Cap Weighted Average 10.1%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
SEHK:3993 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (5 months ago) See Below
Future Estimates Average of up to 16 Analyst Estimates (S&P Global) See Below
All numbers in CNY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
SEHK:3993 Future Estimates Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2020-12-31 28,860 9,609 5,475 14
2019-12-31 27,994 11,372 5,290 16
2018-12-31 25,584 5,347 4,816 4
SEHK:3993 Past Financials Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income *
2018-09-30 26,525 10,958 5,248
2018-06-30 26,552 10,359 5,015
2018-03-31 25,797 9,573 3,681
2017-12-31 24,148 8,429 2,728
2017-09-30 21,160 7,716 2,031
2017-06-30 16,345 5,861 1,320
2017-03-31 11,575 4,077 1,454
2016-12-31 6,950 2,915 998
2016-09-30 4,518 549 704
2016-06-30 4,187 644 810
2016-03-31 4,170 1,703 598
2015-12-31 4,197 1,359 761

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • China Molybdenum's earnings are expected to grow by 4.9% yearly, however this is not considered high growth (20% yearly).
  • China Molybdenum's revenue is expected to grow by 4.9% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
SEHK:3993 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (5 months ago) See Below
Future Estimates Average of up to 16 Analyst Estimates (S&P Global) See Below

All data from China Molybdenum Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:3993 Future Estimates Data
Date (Data in CNY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2020-12-31 0.23 0.29 0.18 8.00
2019-12-31 0.24 0.28 0.20 9.00
2018-12-31 0.22 0.23 0.22 4.00
SEHK:3993 Past Financials Data
Date (Data in CNY Millions) EPS *
2018-09-30 0.24
2018-06-30 0.23
2018-03-31 0.18
2017-12-31 0.14
2017-09-30 0.11
2017-06-30 0.08
2017-03-31 0.09
2016-12-31 0.06
2016-09-30 0.04
2016-06-30 0.05
2016-03-31 0.04
2015-12-31 0.05

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • China Molybdenum is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess China Molybdenum's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Hong Kong market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Hong Kong market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
China Molybdenum has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

3993 Past Performance

  How has China Molybdenum performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare China Molybdenum's growth in the last year to its industry (Metals and Mining).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • China Molybdenum has delivered over 20% year on year earnings growth in the past 5 years.
  • China Molybdenum's 1-year earnings growth exceeds its 5-year average (158.4% vs 28.7%)
  • China Molybdenum's earnings growth has exceeded the HK Metals and Mining industry average in the past year (158.4% vs 39%).
Earnings and Revenue History
China Molybdenum's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from China Molybdenum Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:3993 Past Revenue, Cash Flow and Net Income Data
Date (Data in CNY Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-09-30 26,524.84 5,248.20 1,346.19 69.27
2018-06-30 26,552.41 5,015.17 1,431.27
2018-03-31 25,797.17 3,680.58 1,361.83
2017-12-31 24,147.56 2,727.80 1,382.19
2017-09-30 21,160.06 2,030.98 1,351.85 67.11
2017-06-30 16,344.66 1,319.69 1,137.11 33.28
2017-03-31 11,574.77 1,454.17 995.13
2016-12-31 6,949.57 998.04 832.91
2016-09-30 4,518.22 703.74 487.80
2016-06-30 4,187.43 810.04 483.56
2016-03-31 4,169.86 597.72 447.20
2015-12-31 4,196.84 761.16 447.52
2015-09-30 4,624.51 1,000.06 476.77
2015-06-30 5,225.37 1,282.40 522.07
2015-03-31 6,214.15 1,751.47 553.95
2014-12-31 6,662.38 1,824.26 566.76
2014-09-30 6,755.31 1,736.95 589.79
2014-06-30 6,553.00 1,574.20 569.56
2014-03-31 6,044.28 1,340.95 519.38
2013-12-31 5,536.47 1,174.20 482.28
2013-09-30 5,268.93 1,022.89 400.23
2013-06-30 5,367.51 934.52 384.16
2013-03-31 5,293.76 979.45 442.46
2012-12-31 5,710.89 1,050.30 458.66
2012-09-30 5,641.24 1,174.56 474.18
2012-06-30 5,945.75 1,265.72 472.55
2012-03-31 6,178.23 1,132.84 503.74

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • China Molybdenum has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • China Molybdenum used its assets less efficiently than the HK Metals and Mining industry average last year based on Return on Assets.
  • China Molybdenum has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess China Molybdenum's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Metals and Mining industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
China Molybdenum has a total score of 4/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

3993 Health

 How is China Molybdenum's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up China Molybdenum's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • China Molybdenum is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • China Molybdenum's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of China Molybdenum's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 1.3x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from China Molybdenum Company Filings, last reported 5 months ago.

SEHK:3993 Past Debt and Equity Data
Date (Data in CNY Millions) Total Equity Total Debt Cash & Short Term Investments
2018-09-30 49,967.37 31,917.59 29,409.08
2018-06-30 47,882.25 30,603.69 26,630.00
2018-03-31 46,693.61 29,503.69 27,747.76
2017-12-31 45,909.13 30,677.99 27,310.16
2017-09-30 44,883.00 36,713.32 25,479.52
2017-06-30 26,400.81 42,030.44 13,094.15
2017-03-31 34,926.21 31,099.76 10,356.09
2016-12-31 34,336.93 35,185.98 10,276.23
2016-09-30 18,281.75 19,660.76 13,798.68
2016-06-30 17,772.94 12,555.72 15,173.34
2016-03-31 18,031.75 9,742.79 13,411.30
2015-12-31 17,816.69 9,815.31 13,217.69
2015-09-30 17,790.65 9,907.54 8,506.51
2015-06-30 14,696.11 13,647.28 13,761.17
2015-03-31 15,332.11 11,159.12 8,979.56
2014-12-31 15,144.53 10,425.71 11,862.87
2014-09-30 13,622.35 6,337.51 3,682.23
2014-06-30 13,161.77 7,330.25 4,487.26
2014-03-31 13,387.77 6,951.45 2,500.16
2013-12-31 12,892.65 7,132.35 3,410.65
2013-09-30 12,632.72 2,226.83 2,435.44
2013-06-30 12,335.53 2,411.20 5,274.95
2013-03-31 12,599.89 2,010.00 2,853.39
2012-12-31 12,371.39 2,010.00 4,123.40
2012-09-30 12,808.50 2,010.00 3,928.69
2012-06-30 12,007.39 395.00 1,601.69
2012-03-31 11,563.12 2,232.00 3,344.17
  • China Molybdenum's level of debt (63.9%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (18% vs 63.9% today).
  • Debt is well covered by operating cash flow (34.3%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 576.6x coverage).
X
Financial health checks
We assess China Molybdenum's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. China Molybdenum has a total score of 4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

3993 Dividends

 What is China Molybdenum's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
2.57%
Current annual income from China Molybdenum dividends. Estimated to be 4.12% next year.
If you bought HK$2,000 of China Molybdenum shares you are expected to receive HK$51 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • China Molybdenum's pays a higher dividend yield than the bottom 25% of dividend payers in Hong Kong (1.96%).
  • China Molybdenum's dividend is below the markets top 25% of dividend payers in Hong Kong (5.27%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
SEHK:3993 Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 16 Analyst Estimates (S&P Global) See Below
Hong Kong Metals and Mining Industry Average Dividend Yield Market Cap Weighted Average of 21 Stocks 3.6%
Hong Kong Market Average Dividend Yield Market Cap Weighted Average of 922 Stocks 3.4%
Hong Kong Minimum Threshold Dividend Yield 10th Percentile 1.1%
Hong Kong Bottom 25% Dividend Yield 25th Percentile 2%
Hong Kong Top 25% Dividend Yield 75th Percentile 5.3%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

SEHK:3993 Future Dividends Estimate Data
Date (Data in CN¥) Dividend per Share (annual) Avg. No. Analysts
2020-12-31 0.12 7.00
2019-12-31 0.12 9.00
2018-12-31 0.14 8.00
SEHK:3993 Past Annualized Dividends Data
Date (Data in CN¥) Dividend per share (annual) Avg. Yield (%)
2018-06-19 0.076 2.695
2017-04-18 0.035 0.984
2016-07-07 0.025 1.433
2015-04-29 0.060 4.794
2014-05-09 0.047 3.645
2013-10-15 0.000 0.000
2013-08-29 0.000 0.000
2013-08-23 0.000 0.000
2013-04-26 0.070 9.005
2013-04-22 0.080 9.647
2012-10-25 0.060 6.312
2012-04-30 0.000 0.000
2011-02-11 0.135 10.999
2011-01-27 0.135 6.512
2010-04-15 0.027 1.656
2009-04-16 0.053 3.000
2009-03-23 0.053 4.604
2009-03-20 0.043 4.363

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of China Molybdenum's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3.2x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.7x coverage).
X
Income/ dividend checks
We assess China Molybdenum's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can China Molybdenum afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. China Molybdenum has a total score of 4/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

3993 Management

 What is the CEO of China Molybdenum's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Faben Li
COMPENSATION CN¥2,408,610
AGE 54
TENURE AS CEO 6.4 years
CEO Bio

Mr. Faben Li, Professor-level senior engineer, has been the Executive Director of China Molybdenum Co., Ltd. (the “Company”) since August 2006. Mr. Li graduated from the Central South Mining & Metallurgical College (subsequently renamed as the Central South University of Technology, now known as the Central South University) with a bachelor’s degree in engineering in 1983 (major in mining engineering) and the Xi’an University of Architecture and Technology with a master’s degree in engineering in 2004 (specialized in mining engineering); and obtained a doctor’s degree in management science and engineering in January 2014. From August 1988 to January 1999, Mr. Li held various positions at Luoyang Luanchuan Molybdenum Company, in which he served as the Deputy Head and Head of the technical division, Quarry Supervisor, Head of the open-pit mining construction department and Deputy Manager. Mr. Li served as Deputy General Manager of Luoyang Luanchuan Molybdenum Group Co., Ltd. (“Luoyang Luanchuan”) between January 1999 and November 2002. From November 2002 to August 2006, Mr. Li was the Deputy General Manager and Vice Chairman of Luoyang Luanchuan as well as a Director of Luoyang Mining Group Co., Ltd. from July 2006 to November 2009. Mr. Li was the standing Deputy General Manager of the Company from August 2006 to October 2012. Mr. Li was a Director of China Molybdenum (Hong Kong) Company Limited from August 2007 to May 2015.

CEO Compensation
  • Faben's compensation has increased by more than 20% in the past year.
  • Faben's remuneration is about average for companies of similar size in Hong Kong.
Management Team Tenure

Average tenure and age of the China Molybdenum management team in years:

0.6
Average Tenure
51
Average Age
  • The average tenure for the China Molybdenum management team is less than 2 years, this suggests a new team.
Management Team

Chaochun Li

TITLE
Chairman of the Board
COMPENSATION
CN¥3M
AGE
41

Faben Li

TITLE
GM & Executive Director
COMPENSATION
CN¥2M
AGE
54
TENURE
6.4 yrs

Yiming Wu

TITLE
CFO & Deputy GM
AGE
43
TENURE
0.6 yrs

Chun Wang

TITLE
Deputy General Manager of Technology & Operation
AGE
50
TENURE
0.6 yrs

Meifeng Gu

TITLE
Chief Accountant
COMPENSATION
CN¥526K
AGE
54
TENURE
0.6 yrs

Yi Zhang

TITLE
Deputy General Manager of Administration & Procurement
AGE
41
TENURE
0.6 yrs

Feng Xiao

TITLE
General Counsel
AGE
56
TENURE
0.6 yrs

Yan Qin

TITLE
Director of Human Resources
AGE
51
TENURE
0.6 yrs

Hongwei Zhang

TITLE
Head of Accounting Department

Siu Pik Ho

TITLE
Company Secretary
AGE
54
TENURE
2.2 yrs
Board of Directors Tenure

Average tenure and age of the China Molybdenum board of directors in years:

4
Average Tenure
47
Average Age
  • The tenure for the China Molybdenum board of directors is about average.
Board of Directors

Faben Li

TITLE
GM & Executive Director
COMPENSATION
CN¥2M
AGE
54
TENURE
12.6 yrs

Youmin Kou

TITLE
Chairman of the Board of Supervisors
AGE
52
TENURE
3.8 yrs

Chaochun Li

TITLE
Chairman of the Board
COMPENSATION
CN¥3M
AGE
41
TENURE
5.2 yrs

Shuhua Li

TITLE
Independent Non-Executive Director
TENURE
0.6 yrs

Gerry Wang

TITLE
Independent Non-Executive Director
TENURE
0.6 yrs

Honglin Yuan

TITLE
Non-Executive Director
COMPENSATION
CN¥90K
AGE
50
TENURE
5.3 yrs

Yunlei Cheng

TITLE
Non-Executive Director
COMPENSATION
CN¥90K
AGE
35
TENURE
3.8 yrs

Ye Yan

TITLE
Independent Non-Executive Director
TENURE
0.6 yrs

Zhenhao Zhang

TITLE
Supervisor
COMPENSATION
CN¥90K
AGE
45
TENURE
9.6 yrs

Zhengyan Wang

TITLE
Supervisor
AGE
47
TENURE
4.2 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (HK$) Value (HK$)
26. Feb 19 Buy BlackRock, Inc. Company 21. Feb 19 21. Feb 19 24,402,000 HK$3.71 HK$90,494,722
06. Oct 18 Sell BlackRock, Inc. Company 03. Oct 18 03. Oct 18 -2,589,000 HK$3.25 HK$-8,406,214
05. Oct 18 Sell BlackRock, Inc. Company 02. Oct 18 02. Oct 18 -38,931,000 HK$3.22 HK$-125,544,745
24. Sep 18 Sell Morgan Stanley, Investment Banking and Brokerage Investments Company 19. Sep 18 19. Sep 18 -13,536,484 HK$2.94 HK$-39,808,132
24. Sep 18 Buy BlackRock, Inc. Company 19. Sep 18 19. Sep 18 14,334,000 HK$3.11 HK$44,577,344
20. Sep 18 Buy BlackRock, Inc. Company 17. Sep 18 17. Sep 18 20,669,076 HK$2.93 HK$60,601,694
10. Aug 18 Sell Capital Research and Management Company Company 09. Aug 18 09. Aug 18 -31,164,000 HK$3.64 HK$-113,480,484
07. Aug 18 Sell Capital Research and Management Company Company 03. Aug 18 03. Aug 18 -1,527,000 HK$3.61 HK$-5,504,990
02. Aug 18 Sell Morgan Stanley, Investment Banking and Brokerage Investments Company 30. Jul 18 30. Jul 18 -4,113,983 HK$3.93 HK$-16,168,365
17. Jul 18 Sell Morgan Stanley, Investment Banking and Brokerage Investments Company 12. Jul 18 12. Jul 18 -4,925,238 HK$3.68 HK$-18,105,174
17. Jul 18 Buy Morgan Stanley, Investment Banking and Brokerage Investments Company 12. Jul 18 12. Jul 18 101,779 HK$3.68 HK$374,140
X
Management checks
We assess China Molybdenum's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. China Molybdenum has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

3993 News

Simply Wall St News

A Note On China Molybdenum Co., Ltd.'s (HKG:3993) ROE and Debt To Equity

By way of learning-by-doing, we'll look at ROE to gain a better understanding of China Molybdenum Co., Ltd. … That means that for every HK$1 worth of shareholders' equity, it generated HK$0.12 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Does China Molybdenum Co., Ltd.'s (HKG:3993) Debt Level Pose A Problem?

Let’s take a look at China Molybdenum’s leverage and assess its financial strength to get an idea of their ability to fund strategic acquisitions and grow through cyclical pressures. … Remember this is a very top-level look that focuses exclusively on financial health, so I recommend a deeper analysis … View our latest analysis for China Molybdenum

Simply Wall St -

What Type Of Shareholder Owns China Molybdenum Co Ltd's (HKG:3993)?

Every investor in China Molybdenum Co Ltd (HKG:3993) should be aware of the most powerful shareholder groups. … Insiders often own a large chunk of younger, smaller, companies while huge companies tend to have institutions as shareholders. … We also tend to see lower insider ownership in companies that were previously publicly owned.

Simply Wall St -

There's An Opportunity With China Molybdenum Co Ltd (HKG:3993)

High quality companies, such as China Molybdenum Co Ltd, are impacted by general market panic and sell-off, but the fundamentals of these companies stay the same. … Check out our latest analysis for China Molybdenum. … China Molybdenum Co., Ltd., together with its subsidiaries, engages in the mining, smelting, processing, and scientific research of copper, molybdenum, tungsten, cobalt, niobium, phosphate, and other base and precious metals

Simply Wall St -

What Does China Molybdenum Co Ltd's (HKG:3993) P/E Ratio Tell You?

We'll show how you can use China Molybdenum Co Ltd's (HKG:3993) P/E ratio to inform your assessment of the investment opportunity. … China Molybdenum has a P/E ratio of 10.79, based on the last twelve months. … Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS)

Simply Wall St -

Should China Molybdenum Co Ltd (HKG:3993) Be Part Of Your Dividend Portfolio?

Historically, China Molybdenum Co Ltd (HKG:3993) has been paying a dividend to shareholders. … Let's dig deeper into whether China Molybdenum should have a place in your portfolio. … View our latest analysis for China Molybdenum

Simply Wall St -

With An ROE Of 9.5%, Can China Molybdenum Co Ltd (HKG:3993) Catch Up To The Industry?

and want to learn about Return on Equity using a real-life example. … With an ROE of 9.5%, China Molybdenum Co Ltd (HKG:3993) returned in-line to its own industry which delivered 10.2% over the past year. … See our latest analysis for China Molybdenum

Simply Wall St -

What Does China Molybdenum Co Ltd's (HKG:3993) Ownership Structure Look Like?

In this analysis, my focus will be on developing a perspective on China Molybdenum Co Ltd’s (HKG:3993) latest ownership structure, a less discussed, but important factor. … The impact of a company's ownership structure affects both its short- and long-term performance. … Check out our latest analysis for China Molybdenum

Simply Wall St -

Can China Molybdenum Co Ltd (HKG:3993) Save Your Portfolio?

China Molybdenum Co Ltd is a financially healthy and robust stock with a proven track record of outperformance. … We all know China Molybdenum, and having this large-cap to cushion your portfolio during a volatile period in the stock market isn't a bad idea. … China Molybdenum Co., Ltd., together with its subsidiaries, engages in the mining, smelting, processing, and scientific research of copper, molybdenum, tungsten, cobalt, niobium, phosphate, and other base and precious metals

Simply Wall St -

Should You Be Tempted To Sell China Molybdenum Co Ltd (HKG:3993) Because Of Its PE Ratio?

I am writing today to help inform people who are new to the stock market. … and want to learn about the link between company’s fundamentals and stock market performance. … While 3993 might seem like a stock to avoid or sell if you own it, it is important to understand the assumptions behind the P/E ratio before you make any investment decisions

Simply Wall St -

3993 Company Info

Description

China Molybdenum Co., Ltd., together with its subsidiaries, engages in the mining, smelting, processing, and scientific research of copper, molybdenum, tungsten, cobalt, niobium, phosphate, and other base and precious metals. The company provides molybdenum oxide, ferromolybdenum, molybdenum and tungsten concentrates, copper concentrate, electrolytic copper, cobalt hydroxide, ferroniobium, phosphate fertilizer, gold and silver, and sulfuric acid. It is also involved in the refining and sale of mineral products; trading of molybdenum and mineral products; importing and exporting goods and technology; and hotel management, consulting, enterprise operating and management, asset management, and transportation businesses. China Molybdenum Co., Ltd. has operations in China, Japan, Brazil, Switzerland, Singapore, Finland, Korea, South Africa, Zambia, Belgium, the United States, and internationally. The company was founded in 2006 and is based in Luoyang, the People’s Republic of China.

Details
Name: China Molybdenum Co., Ltd.
3993
Exchange: SEHK
Founded: 2006
HK$115,794,706,550
21,599,240,583
Website: http://www.chinamoly.com
Address: China Molybdenum Co., Ltd.
North of Yihe,
Huamei Shan Road,
Luoyang,
Henan Province, 471500,
China
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 3993 Foreign Shares-Foreign Listed The Stock Exchange of Hong Kong Ltd. HK HKD 26. Apr 2007
OTCPK CMCL.F Foreign Shares-Foreign Listed Pink Sheets LLC US USD 26. Apr 2007
DB D7N Foreign Shares-Foreign Listed Deutsche Boerse AG DE EUR 26. Apr 2007
SHSC 3993 Foreign Shares-Foreign Listed Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect HK HKD 26. Apr 2007
SZSC 3993 Foreign Shares-Foreign Listed The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect HK HKD 26. Apr 2007
SHSE 603993 Domestic Shares Shanghai Stock Exchange CN CNY 09. Oct 2012
XSSC 603993 Domestic Shares Shanghai Stock Exchange - Shanghai - Hong Kong Stock Connect CN CNY 09. Oct 2012
Number of employees
Current staff
Staff numbers
11,403
China Molybdenum employees.
Industry
Diversified Metals and Mining
Materials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/03/19 12:43
End of day share price update: 2019/03/19 00:00
Last estimates confirmation: 2019/03/15
Last earnings filing: 2018/10/29
Last earnings reported: 2018/09/30
Last annual earnings reported: 2017/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.