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<Research>CMBI Adds CGN MINING (01164.HK) TP to $3.67, Raises Uranium Price Forecasts
Recommend 10 Positive 15 Negative 7 |
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Considering the strong demand for uranium due to nuclear power generation and the supply uncertainty brought by the commencement of new mines, CMBI released a research report maintaining a constructive view on uranium prices. The broker raised its 2026/ 2027spot uranium price forecasts by 9% each to US$90/ US$93 per pound. Along with a new supply agreement signed with the parent company, CMBI raised its 2026/ 2027 earnings forecasts for CGN MINING (01164.HK) by 9-11%, and expected the Company's earnings to grow by 235%/ 19% in 2026/ 2027 due to a lower base in 2025. The broker added its target price from $2.42 to $3.67, with rating reiterated at Buy, and predicted that tight supply will continue to drive the recovery of uranium prices, potentially boosting its share price. AASTOCKS Financial News Website: www.aastocks.com |
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