On October 28, MMG posted an Intraday Rise of 3.03% in Regular Trading, trading at HK$7.31, with turnover of HK$108 million.
The move coincided with a recent recovery in copper prices, which improved sentiment across the diversified metals and mining space and helped ease market concerns over MMG's earlier cuts to full-year guidance at Khoemacau and Rosebery.
In its latest operating update, MMG said third-quarter total copper output rose 3% year on year to 131,200 tonnes, supported by stronger production at Kinsevere and Khoemacau. Kinsevere benefited from improved power supply and ramp-up of its sulphide processing line, with copper cathode production expected to reach the top end of its full-year guidance range. Offsetting that, the company reduced full-year copper guidance for Khoemacau by 9% to 10% and lowered Rosebery zinc guidance by 29% to 33%, though some institutions had still maintained a buy rating and raised target prices.
(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.)
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