Gelonghui, March 1 | Dongwu Securities Research Report pointed out that based on Luoyang Molybdenum Industry (603993.SH)'s significant increases in TFM and KFM copper mines in 2024, and future production releases can be expected to resolve equity issues. It was covered for the first time, giving it a “buy” rating. There is a strong positive correlation between the company's stock price and copper. It is expected that along with the basic outlook for copper supply and demand and the US interest rate cut in 2024, copper prices are expected to perform well, leading to a rise in the company's stock price. From a production perspective, the company has huge potential for TFM and KFM copper resources in 2024. Due to abundant reserves and high grade, the company expects copper production of 52-570,000 tons (yoy +24%-36%) in 2024, leading to a large increase. At the same time, the company's cost control efforts are ahead of schedule, achieving the three-year cost reduction target of 500 million US dollars ahead of schedule.
研报掘金丨东吴证券：首予洛阳钼业“买入”评级，铜资源龙头尽享弹性空间
Research Report Nuggets丨Dongwu Securities: First “buy” rating given to Luoyang Molybdenum Industry, leading copper resources enjoy flexible space
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