Bank of America Securities: Luoyang Molybdenum (03993.HK) exceeds profit expectations in the first half of the year, reaffirms "buy" rating.

According to the Wise Financial APP, Bank of America Securities released a research report stating that the management of Luoyang Molybdenum Industry (03993.HK) expects the production costs in the second quarter of 2025 to remain flat on a quarterly basis, but decrease compared to the same period. The copper production costs of the TFM copper mine should be in the range of $5,500 to $6,000 per ton, while the copper production costs of the KFM copper mine are in the range of $3,000 to $3,500 per ton. Bank of America reiterated its "buy" rating on Luoyang Molybdenum, with a target price of HK$8.5 for H shares.