Movement Alert｜MMG Rises 3.23% in Regular Trading, H1 Net Profit Surges 164% as Revenue Hits Record High

Market Focus09:31

On August 12, MMG rose 3.23% in regular trading, trading at HK$9.27/share, with turnover of HK$85.65 million. The rally followed the company's release of record-breaking interim results the previous day.

MMG reported revenue of US$4.54 billion for the first half of the year, up 61% year-over-year and a historical high. EBITDA reached US$2.727 billion, up 77%, while net profit attributable to equity holders surged 164% to US$807 million. Copper production totaled 266,500 tonnes, the highest first-half output since 2018. The company also lowered C1 cash cost guidance for three of its mines, benefiting from strong by-product credits. Additionally, copper mineral resources increased 7%, supported by the newly identified Kgwebe deposit in Botswana.

Multiple investment banks maintain positive outlooks. Morgan Stanley holds an Overweight rating with a target price of HK$11.7, while BOCI reaffirmed a Buy rating with a target of HK$10.93, citing continued production and cost improvements driving earnings growth.

(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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