CMM surged +11.7% on Monday, extending its 2025 gains to an impressive +82%. Earlier in the month, we called CMM up to $11, which was clearly too conservative, as the $4.9bn gold miner powered through the psychological level on Monday. The company delivered when it reported last week with profit up 72% YoY to $150mn and an anticipated All-In sustaining Cost (AISC) of $A1530-$1630, not bad with gold trading almost $A3,000 higher.
- We remain bullish towards CMM in line with our short-term bullish stance towards gold, but we cannot chase at current levels.
MM is cautiously bullish towards CMM
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