CGN Mining Co (1164) AI Stock Analysis

• Market Cap: HK$32.53B
• Dividend Yield: 0.31%
• Average Volume (3M): 98.02M
• Price to Earnings (P/E): ―
• Beta (1Y): 0.72
• Revenue Growth: -26.37%
• EPS Growth: -62.54%
• Country: HK
• Employees: 27
• Sector: Energy
• Sector Strength: 52
• Industry: Uranium
• EPS (TTM): >-0.01
• Shares Outstanding: 7,600,682,600
• 10 Day Avg. Volume: 127,798,558
• 30 Day Avg. Volume: 98,023,337
• PEG Ratio: -1.16
• Price to Book (P/B): 3.16
• Price to Sales (P/S): 1.44
• P/FCF Ratio: -13.71
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): 0.14
• Revenue Forecast (FY): HK$9.86B

• Rating: 56 Neutral
• Price Target: HK$4.50 ▲(5.14% Upside)
• Action: Reiterated Date: 02/03/26
• Date: Action: Reiterated 02/03/26

The score is held back primarily by weakening financial performance (profitability and cash flow deterioration) and an expensive valuation (very high P/E), partially offset by strong technical momentum with the stock trading above major moving averages and a positive MACD.

Positive Factors

Long-term contracts and trading mix

Long-term contracts with utilities plus active uranium trading create durable, diversified revenue channels. Contracted sales smooth commodity volatility while trading provides upside capture, supporting more stable cash flow profiles and commercial flexibility over the next several quarters.

Solid capital structure and leverage

An improved equity ratio and moderate leverage give the company financial resilience to fund mining development and absorb commodity cycles. This balance sheet posture supports investment capacity and reduces refinancing risk across 2-6 months of execution on projects.

Favorable industry structural demand

Exposure to expanding nuclear energy demand is a durable tailwind for uranium producers. CGN's integrated focus on exploration, extraction and fuel-cycle services positions it to benefit structurally from increasing utility procurement and long-term reactor restarts or capacity additions.

Negative Factors

Operating cash flow collapse

A drop to zero operating cash flow materially impairs the company's ability to self-fund operations and capex. Over the medium term this raises liquidity strain, increases reliance on external financing, and undermines free cash flow generation vital for sustaining mining investment.

Profitability deterioration and negative margins

Turning negative operating margins signal structural cost or pricing pressures that hurt earnings quality. Sustained negative EBIT/EBITDA reduces reinvestment capacity and raises break-even risks, forcing potential operational restructuring or margin recovery initiatives.

Declining earnings and revenue trends

Material declines in reported revenue and EPS growth reflect weakening underlying performance and lower earnings power. Continued top-line and EPS contraction constrains cash generation and limits the company's ability to execute growth projects or absorb commodity-driven shocks.

CGN Mining Co Business Overview & Revenue Model

Company Description

CGN Mining Company Limited engages in the development and trading of natural uranium resources to nuclear power plants. The company is also involved in property investment and leasing activities. It has operations in Hong Kong, the United States, the People's Republic of China, Canada, the United Kingdom, rest of Europe, and the Czech Republic. The company was founded in 1998 and is headquartered in Wan Chai, Hong Kong. CGN Mining Company Limited is a subsidiary of China Uranium Development Company Limited.

How the Company Makes Money

CGN Mining Co generates revenue primarily through the sale of uranium, which is used as fuel in nuclear power plants. The company benefits from long-term contracts with utility companies and nuclear power operators, which provide stable cash flow and mitigate market volatility. Additionally, CGN Mining Co engages in the trading of uranium, capitalizing on price fluctuations in the market. The company may also receive income from strategic partnerships and joint ventures that enhance its mining capabilities and exploration efforts, further contributing to its revenue streams.

CGN Mining Co Financial Statement Overview

Summary

Income statement weakness (income score 45) with profitability deterioration and negative EBIT/EBITDA margins in 2024, plus cash flow strain (cash flow score 50) as operating cash flow fell to zero. The balance sheet is comparatively steadier (balance sheet score 65) with a moderate debt-to-equity ratio (0.74) and improved equity ratio, but declining ROE signals weakening returns.

Income Statement

The company experienced inconsistent revenue growth, with an increase of 17.1% from 2023 to 2024, but a net loss in gross profit margin. Net profit margin dropped significantly from 6.7% in 2023 to 4.0% in 2024, indicating decreased profitability. Additionally, both EBIT and EBITDA margins turned negative in 2024, showing operational struggles.

Balance Sheet

The company has a moderate debt-to-equity ratio of 0.74 in 2024, which is relatively stable. The equity ratio improved to 50.0% in 2024, indicating a strong capital base. However, the return on equity decreased from 12.8% in 2023 to 8.7% in 2024, reflecting declining profitability.

Cash Flow

Operating cash flow fell from 1.04 billion in 2023 to zero in 2024, indicating cash flow challenges. Free cash flow also decreased sharply, suggesting reduced financial flexibility. The absence of operating cash flow to net income and free cash flow to net income ratios highlights cash flow inefficiencies despite prior year's positive performance.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	6.26B	8.62B	7.36B	3.65B	3.86B	2.86B
Gross Profit	-256.48M	-66.12M	131.93M	148.03M	88.28M	202.77M
EBITDA	-270.59M	-78.36M	692.81M	107.34M	108.01M	226.42M
Net Income	161.29M	341.98M	497.10M	514.91M	178.50M	155.22M
Balance Sheet
Total Assets	8.58B	7.84B	6.75B	6.87B	6.35B	4.19B
Cash, Cash Equivalents and Short-Term Investments	1.37B	1.15B	1.02B	52.39M	81.29M	1.17B
Total Debt	3.33B	2.92B	1.76B	2.40B	3.03B	1.96B
Total Liabilities	4.71B	3.92B	2.87B	3.52B	4.19B	2.16B
Stockholders Equity	3.87B	3.92B	3.88B	3.35B	2.16B	2.03B
Cash Flow
Free Cash Flow	-954.26M	-903.41M	1.04B	463.74M	242.30M	-327.12M
Operating Cash Flow	-954.18M	-903.36M	1.04B	464.33M	242.69M	-326.59M
Investing Cash Flow	25.26M	577.25M	498.79M	418.56M	-3.37B	25.72M
Financing Cash Flow	558.06M	471.39M	-581.91M	-481.74M	1.98B	785.98M

CGN Mining Co Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 4.28
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:1164, the sentiment is Neutral. The current price of 4.28 is below the 20-day moving average (MA) of 4.77, below the 50-day MA of 4.36, and above the 200-day MA of 3.15, indicating a neutral trend. The MACD of -0.04 indicates Positive momentum. The RSI at 42.26 is Neutral, neither overbought nor oversold. The STOCH value of 23.08 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for HK:1164.

CGN Mining Co Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
2883	77 Outperform	HK$76.90B	6.51	8.58%	3.59%	2.58%	7.10%
1171	72 Outperform	$213.57B	8.59	―	8.02%	0.80%	-35.81%
1033	69 Neutral	HK$56.80B	10.60	6.84%	―	1.90%	-8.51%
0883	68 Neutral	HK$1.47T	2.77	16.65%	6.76%	-9.81%	-8.84%
Sector *	65 Neutral	$15.17B	7.61	4.09%	5.20%	3.87%	-62.32%
1164	56 Neutral	HK$32.53B	-68.26	4.14%	0.31%	-26.37%	-62.54%
0338	55 Neutral	HK$31.66B	-8.74	-0.61%	1.65%	-11.11%	62.07%

CGN Mining Co Corporate Events

CGN Mining Slightly Exceeds 2025 Uranium Production Plan and Maintains Active Trading Book

CGN Mining reported that its Kazakhstan joint venture Semizbay-U and associate Ortalyk achieved full-year 2025 natural uranium production of 2,699 tonnes uranium, slightly exceeding their combined annual plan with completion rates of 100.1% and 102.0% respectively. Fourth-quarter output from the assets in which the group holds interests reached 702.5 tonnes uranium, or 94.6% of the quarterly plan, after Ortalyk deliberately trimmed production in the period following earlier overperformance. On the trading side, as of 31 December 2025 the group held 929 tonnes uranium in inventory at a weighted average cost of US$73.83 per pound U3O8 and had 3,019 tonnes uranium under contracted but undelivered sales at an average selling price of US$81.59 per pound, and it matched fourth-quarter procurement and sales of 1,170 tonnes uranium under new contracts, underscoring an active and largely price-positive trading book for stakeholders.

The most recent analyst rating on (HK:1164) stock is a Buy with a HK$3.67 price target. To see the full list of analyst forecasts on CGN Mining Co stock, see the HK:1164 Stock Forecast page.