Movement Alert｜MMG Rises 6.16% in Regular Trading, Non-Ferrous Metals Sector Rallies Ahead of Interim Results

Market Focus08-05

On August 5, MMG rose 6.16% in regular trading, reaching HKD 9.045 per share, with turnover of HKD 284 million. The rally was driven by broad strength in the non-ferrous metals sector combined with rising expectations ahead of the company's interim results announcement.

MMG is scheduled to hold a board meeting on August 11 to approve its interim results for the six months ended June 30, fueling market anticipation. The company reported Q2 copper production of 137,843 tonnes, up 8% quarter-over-quarter, while lowering C1 cash cost guidance at three mines due to strong by-product credits in the first half. Las Bambas output is expected to reach the upper end of its full-year guidance of 380,000-400,000 tonnes.

Sector peers posted strong gains, with CMOC up 7.53% and Ximei Resources up 9.07%. Institutional support remains firm, with BOCI reiterating a Buy rating with a target price of HKD 10.93, and Morgan Stanley maintaining Overweight with a target of HKD 11.7, both representing significant upside from the current level.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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