On July 31, MMG rose 3.11% in regular trading, trading at HKD 8.31 per share, with turnover of HKD 56.06 million. The non-ferrous metals sector saw a broad-based recovery, with peers CMOC up 3.2% and Wanguo Gold Group up 7.18%.

On the news front, the stock had experienced consecutive days of decline due to rising Fed rate hike expectations and USD strength, with the dollar index climbing back above 101. The current move represents a technical rebound following short-term oversold conditions. On fundamentals, MMG reported Q2 total copper production of 137,843 tonnes, up 8% quarter-over-quarter, while lowering C1 cash cost guidance for three mines, benefiting from strong by-product credits in the first half.

BOCI reaffirmed a Buy rating with a target price of HKD 10.93, while Morgan Stanley maintained an Overweight rating with a target price of HKD 11.7, both implying significant upside from the current share price and providing valuation support.

(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.)