QM · rank #1 · 2026-10-23
KGH
GPW · PLN · $16.07B (USD)
The exact numbers the algorithm saw.
| Momentum 12-1 Return from 12 months ago to 1 month ago. | +140.96% |
|---|---|
| ROE TTM Return on equity, trailing 12 months. | +24.1% |
| Profit margin Net profit margin, trailing 12 months. | +20.0% |
| Market cap (USD) Size filter: > $300M required (USD-equivalent). | $16.07B |
| Anchor (recent) Close on 2026-09-23 | $342.65 |
| Anchor (far) Close on 2025-09-23 | $142.20 |
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 the EU's largest mined-copper producer, operating integrated Polish underground mines and smelters alongside the 55%-owned Sierra Gorda copper-molybdenum mine in Chile, with meaningful silver and molybdenum by-product exposure.
Rationale
The momentum_12_1 of 1.41 reflects a real earnings re-rating — H1 2026 EBITDA nearly doubled year-over-year — while ROE of 24% and a 20% profit margin confirm the quality screen is capturing genuine operational leverage to elevated copper prices rather than a sentiment-only rotation.
Material risks
- 1The US$725 million Sierra Gorda fourth-grinding-line expansion runs through 2030 alongside PLN 9.5 billion of Polish strategic projects, creating a sustained heavy-capex cycle that could compress free cash flow and erode the ROE/margin quality signals if copper prices soften or ore grades disappoint further.
- 2KGHM INTERNATIONAL already delivered production 2% below budget in H1 2026 due to lower-than-expected ore quality, signaling that the volume growth underpinning the momentum thesis is fragile and execution-dependent rather than structurally locked in.
AI verdict council
Each pick is reviewed independently by 3 models before any order. 3 of 3 voted to proceed.