Investors chase CNMC Goldmine to new high on record profit, trebled dividend
[SINGAPORE] Shares of CNMC Goldmine soared more than 10 per cent on Friday (Aug 15) afternoon after the gold producer posted record first-half earnings this week.
The stock hit an intraday high of S$0.655 at 3.05 pm, with 11.1 million shares changing hands.
This was 10.1 per cent or S$0.06 above its closing price of S$0.595 on Thursday; it was also the highest price the counter had reached since it commenced trading on the Singapore Exchange on Oct 28, 2011, according to data from Yahoo Finance.
Shares of CNMC Goldmine ended Friday at S$0.645, up 8.4 per cent or S$0.05 on the day, with 16.3 million shares transacted.
In the year to date, the counter has risen 163.3 per cent or S$0.40 from S$0.245, its closing price on the last trading day of 2024.
This comes amid a rise in gold prices, as investors turn to safe-haven assets amid uncertainty.
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On Wednesday, CNMC Goldmine reported a record net profit of US$15.8 million for the six months ended Jun 30, 2025. Fuelled by soaring gold prices and higher production, this marked a 256.1 per cent surge from its US$4.4 million net profit in the year-ago period.
The company recorded a 26 per cent year-on-year increase in gold produced from its carbon-in-leach plant, which stood at 11,811 ounces for H1.
Additionally, it recorded an average selling price of US$3,197 per ounce of gold produced in the half-year, 41.1 per cent higher than the price of US$2,266 per ounce in H1 2024.
CNMC Goldmine, which operates the Sokor gold mine in Kelantan, Malaysia, declared a dividend of S$0.015 per share, more than triple the dividend of S$0.004 per share in the previous corresponding period.
Comprising a special payout of S$0.011 and an interim dividend of S$0.004, it translates to a payout ratio of nearly 29 per cent of its H1 2025 earnings.
