On August 14, MMG rose 3.17% in regular trading, trading at HK$8.635 per share, with turnover of HK$87.14 million. The rebound follows Bank of America Securities raising its target price to HK$12, citing the company's strong first-half performance.

MMG reported record interim results on August 11, with revenue surging 61% year-over-year to US$4.54 billion, EBITDA climbing 77% to US$2.727 billion, and net profit attributable to equity holders soaring 164% to US$897 million. Copper production reached 266,541 tons in H1, the highest first-half level since 2018. Multiple brokerages maintain bullish ratings, including Morgan Stanley at \"Overweight\" with an HK$11.7 target and Citi at \"Buy\" with an HK$11.2 target.

The stock had declined 3.6% on August 13 after the company announced plans to place new shares and issue convertible bonds, exacerbating market concerns over equity dilution following a June placement of approximately 706 million shares at HK$8.88 each. Today's rebound suggests the market is refocusing on the company's fundamental strength and upgraded broker targets.

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