Update shared on05 Sep 2025
Fair value Increased 6.11%The consensus price target for MMG has increased, driven by a substantial rise in both future P/E ratio and net profit margin expectations, resulting in a new fair value estimate of HK$4.91.
What's in the News
- MMG reported Q2 2025 production: 126,633 tonnes copper concentrate, 13,735 tonnes copper cathode, 56,176 tonnes zinc concentrate, 8,436 tonnes lead concentrate, and 707 tonnes molybdenum concentrate.
- Year-to-date production to June 30, 2025: 233,234 tonnes copper concentrate, 25,425 tonnes copper cathode, 107,931 tonnes zinc concentrate, 17,153 tonnes lead concentrate, and 1,383 tonnes molybdenum concentrate.
- Board meeting scheduled for August 12, 2025 to review and publish interim results for the half year ended June 30, 2025.
- MMG expects H1 2025 net profit attributable to equity holders of approximately USD 340 million, substantially higher than USD 21 million in H1 2024, driven by increased production, lower costs at Las Bambas, and higher commodity prices.
Valuation Changes
Summary of Valuation Changes for MMG
- The Consensus Analyst Price Target has risen from HK$4.63 to HK$4.91.
- The Future P/E for MMG has significantly risen from 10.78x to 84.00x.
- The Net Profit Margin for MMG has risen from 12.30% to 13.25%.
Disclaimer
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