Corporate Logo(source: poongsan.co.kr)
Hyundai Motor Securities projected a positive outlook for Poongsan (103140) in the fourth quarter, citing higher copper prices and robust defense-related sales. The brokerage maintained its “Buy” rating and target price of 165,000 won.
As of 10:01 a.m. on October 20, Poongsan shares were trading at 119,200 won, up 1.88% from the previous session.
Park Hyun-wook, analyst at Hyundai Motor Securities, said, “We estimate Poongsan’s third-quarter operating profit at 72 billion won. In the short term, rising copper prices are driving profitability, while in the mid to long term, higher defense spending among major nations will support sustained performance in the defense division.” He added, “We forecast third-quarter revenue of 1.209 trillion won, operating profit of 72 billion won, and pre-tax profit of 60 billion won.”
Park expressed optimism for the company’s fourth-quarter results, stating, “Operating profit in the fourth quarter is expected to rise 49% quarter-on-quarter to 107 billion won, driven by higher copper prices and increasing defense sales. Both the copper processing and defense businesses are likely to see earnings growth.” He added, “This will mark the highest operating profit level of the year, excluding the second quarter.”
According to data from the London Metal Exchange (LME), copper prices are currently around $10,600 per ton (approximately 15.09 million won), up steadily from $9,500 per ton (about 13.52 million won) in July. Park noted, “With global copper demand continuing to rise, the supply surplus is expected to narrow starting next year.”
*[KOSPI] Poongsan(103140), a subsidiary of the Poongsan Group, is divided into the new business sector(production of copper and copper alloy products) and the defense business sector(production of military ammunition, precision forging, etc.). The market capitalization is 3.282 trillion won (as of October 17, 2025, closing price).
Corporate Logo(source: poongsan.co.kr)
Hyundai Motor Securities projected a positive outlook for Poongsan (103140) in the fourth quarter, citing higher copper prices and robust defense-related sales. The brokerage maintained its “Buy” rating and target price of 165,000 won.
As of 10:01 a.m. on October 20, Poongsan shares were trading at 119,200 won, up 1.88% from the previous session.
Park Hyun-wook, analyst at Hyundai Motor Securities, said, “We estimate Poongsan’s third-quarter operating profit at 72 billion won. In the short term, rising copper prices are driving profitability, while in the mid to long term, higher defense spending among major nations will support sustained performance in the defense division.” He added, “We forecast third-quarter revenue of 1.209 trillion won, operating profit of 72 billion won, and pre-tax profit of 60 billion won.”
Park expressed optimism for the company’s fourth-quarter results, stating, “Operating profit in the fourth quarter is expected to rise 49% quarter-on-quarter to 107 billion won, driven by higher copper prices and increasing defense sales. Both the copper processing and defense businesses are likely to see earnings growth.” He added, “This will mark the highest operating profit level of the year, excluding the second quarter.”
According to data from the London Metal Exchange (LME), copper prices are currently around $10,600 per ton (approximately 15.09 million won), up steadily from $9,500 per ton (about 13.52 million won) in July. Park noted, “With global copper demand continuing to rise, the supply surplus is expected to narrow starting next year.”
*[KOSPI] Poongsan(103140), a subsidiary of the Poongsan Group, is divided into the new business sector(production of copper and copper alloy products) and the defense business sector(production of military ammunition, precision forging, etc.). The market capitalization is 3.282 trillion won (as of October 17, 2025, closing price).