QM · rank #7 · 2026-10-20
NDA
XETRA · EUR · $7.55B (USD)
The exact numbers the algorithm saw.
| Momentum 12-1 Return from 12 months ago to 1 month ago. | +76.44% |
|---|---|
| ROE TTM Return on equity, trailing 12 months. | +18.3% |
| Profit margin Net profit margin, trailing 12 months. | +4.5% |
| Market cap (USD) Size filter: > $300M required (USD-equivalent). | $7.55B |
| Anchor (recent) Close on 2026-09-18 | $167.10 |
| Anchor (far) Close on 2025-09-19 | $94.71 |
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
Aurubis is the world's largest copper recycler operating an integrated smelter and refining network that converts copper concentrates and complex secondary materials into copper, precious metals, and industrial by-products.
Rationale
Strong 12-month price momentum (0.76) is underpinned by genuine quality signals — 18% ROE and operating EBT up 31% YoY with guidance raised to the upper end of €425–525M — suggesting the momentum reflects fundamental earnings acceleration rather than pure sentiment rotation.
Material risks
- 1The Richmond recycling ramp-up remains in extended delay; a further slip into fiscal 2027/28 would defer a material earnings contributor and drain cash at a time when net cash flow is already negative, directly undermining the quality-momentum thesis.
- 2Copper price, treatment-charge, and European copper-premium reversals could simultaneously compress margins and inflate working-capital requirements, exposing the thin 4.5% profit margin to rapid deterioration in a cyclical downturn.
AI verdict council
Each pick is reviewed independently by 3 models before any order. 3 of 3 voted to proceed.