QM · rank #2 · 2026-07-22
KGH
GPW · PLN · $15.46B (USD)
The exact numbers the algorithm saw.
| Momentum 12-1 Return from 12 months ago to 1 month ago. | +201.00% |
|---|---|
| ROE TTM Return on equity, trailing 12 months. | +20.1% |
| Profit margin Net profit margin, trailing 12 months. | +17.5% |
| Market cap (USD) Size filter: > $300M required (USD-equivalent). | $15.46B |
| Anchor (recent) Close on 2026-06-22 | $366.47 |
| Anchor (far) Close on 2025-06-20 | $121.75 |
The AI research card
Independent qualitative review of each pick before the order is placed. On the rare day the research service is unavailable, the paper book trades on the quant ranking alone and no card appears here.
Summary
KGHM Polska Miedz is Poland's integrated copper and silver mining-smelting giant with core Polish operations and international assets including Sierra Gorda, generating revenues across the full metals value chain.
Rationale
The quality_momentum signal is strongly reinforced — momentum_12_1 of 2.01 reflects a genuine earnings re-rating (Q1 2026 EPS of 17.65 PLN vs. consensus 12.40 PLN), while ROE of 20% and profit margin of 17.5% confirm the quality leg is backed by real operational improvement, not multiple expansion alone.
Material risks
- 1KGHM is an unhedged price-taker on copper, silver, and gold — the entire Q1 2026 earnings beat was price-driven with only ~4% volume growth, so a metals price reversal would collapse both the momentum and quality signals simultaneously.
- 2Elevated Polish minerals extraction tax scales with metal prices, meaning the fiscal drag accelerates precisely when earnings look best, compressing free cash flow conversion and potentially undermining the quality thesis at the margin level that matters most.
AI verdict council
Each pick is reviewed independently by 3 models before any order. 3 of 3 voted to proceed.