Compagnie Miniere de Touissit stock reports 74 percent H1 growth

Compagnie Miniere de Touissit (ISIN MA0000011793) reported consolidated revenue of MAD 596.0 million for the six months ended June 30, 2026, an increase of 74.00 percent from the same period of 2025, according to Maroc Diplomatique. The result gives CMT stock a clear operating catalyst, but the production figures show a more mixed picture.

Revenue rises on metal prices

CMT generated MAD 255.0 million in the second quarter, up 47.00 percent from MAD 173.0 million in the second quarter of 2025. The company attributed the first-half increase to higher metal prices and stronger sales volumes, with average zinc prices up 22.00 percent and silver prices up 141.00 percent from June 2025, as reported by Maroc Diplomatique.

Sales of concentrates increased 17.00 percent to 16,096 tonnes in the first half, versus 13,762 tonnes a year earlier. Production moved in the opposite direction: CMT produced 13,400 tonnes of concentrates, down 4.00 percent year over year, while second-quarter treated ore declined 3.00 percent to 88,250 tonnes.

Cash position changes the balance

Cash generation is the other important shift. Net cash stood at MAD 393.0 million at June 30, 2026, compared with net debt of MAD 70.0 million at December 31, 2025, while available cash and equivalents rose to MAD 408.0 million from MAD 23.0 million.

Investment spending also increased to MAD 37.0 million in the first half, up 37.00 percent year over year. The spending supported work on the Ighrem Aousser mine shaft and exploration programs, linking the stronger revenue base to expansion and maintenance rather than to metal prices alone, according to Maroc Diplomatique.

Offer sets a separate reference point

The corporate backdrop is an approved mandatory offer. The Moroccan capital markets regulator AMMC dated its admissibility decision September 15, 2026, and the offer price is MAD 2,217.00 per share for 611,898 shares, representing 36.40 percent of CMT capital and voting rights, according to AMMC. The offer price is separate from the operating improvement because it reflects the ownership transaction rather than a new earnings forecast.

Casablanca quote and company profile

On September 25, 2026, CMT was quoted at MAD 4,315.00 on the Casablanca Stock Exchange, up 9.99 percent, with market capitalization of MAD 7.3 billion. The company explores, mines and processes base metals, with lead and zinc among its principal products.

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