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.
As at 3.05 pm, the stock was trading at an all-time high of S$0.655, with 11.1 million shares changing hands. This was 10.1 per cent or S$0.06 above its S$0.595 closing price on Thursday.
This is the highest price it has reached since it commenced trading on the Singapore Exchange on Oct 28, 2011, Yahoo Finance data shows.
Year to date, the counter has risen 167.3 per cent or S$0.41 from S$0.245, its closing price on the last trading day of 2024.
This comes as prices of gold have been advancing as investors turn to safe-haven assets amid uncertainty.
By 4.30 pm, the counter had eased to S$0.645, but still 8.4 per cent or S$0.05 above Thursday’s close, with some 14.6 million shares transacted.
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On Wednesday, CNMC Goldmine reported a record net profit of US$15.8 million for H1 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 treble 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.
