Update shared on21 Aug 2025
Fair value Increased 6.29%The significant rise in MMG's future P/E ratio, despite reduced consensus revenue growth forecasts, suggests higher anticipated premiums or improved sentiment, contributing to the analyst price target increase from HK$4.26 to HK$4.52.
What's in the News
- MMG reported Q2 copper production of 126,633 tonnes (contained metal in concentrate) and 13,735 tonnes copper cathode; zinc production was 56,176 tonnes, lead 8,436 tonnes, and molybdenum 707 tonnes.
- Year-to-date production totals include 233,234 tonnes copper (contained metal in concentrate), 25,425 tonnes copper cathode, 107,931 tonnes zinc, 17,153 tonnes lead, and 1,383 tonnes molybdenum.
- MMG expects net profit after tax attributable to equity holders for H1 2025 of approximately USD 340 million, a significant increase from USD 21 million in H1 2024, driven by higher production, lower costs at Las Bambas, and increased commodity prices.
- The Board will meet on Aug 12, 2025 to consider and publish interim results for the six months ended June 30, 2025.
Valuation Changes
Summary of Valuation Changes for MMG
- The Consensus Analyst Price Target has risen from HK$4.26 to HK$4.52.
- The Future P/E for MMG has significantly risen from 14.20x to 84.21x.
- The Consensus Revenue Growth forecasts for MMG has significantly fallen from 13.0% per annum to 7.8% per annum.
Disclaimer
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