Movement Alert｜MMG Falls 3.2% in Regular Trading, Metals and Mining Sector Under Broad Selling Pressure

Market Focus

Jul 24

On July 24, MMG fell 3.2% in regular trading, trading at HKD 8.36/share, with turnover of HKD 18.26 million. The Diversified Metals & Mining sector saw widespread weakness, with CMOC down 4.49%, Wanguo Gold Group down 4.24%, Jiaxin International Resources down 1.94%, and Lygend Resources down 2.07%.

The pullback comes after MMG had rallied over 9% across the prior two sessions following its Q2 production report showing total copper output of 137,843 tonnes (up 8% quarter-over-quarter) and Morgan Stanley's reiteration of an Overweight rating with a target price of HKD 11.7. The bank had noted Las Bambas production was on track to reach the upper end of full-year guidance of 380,000-400,000 tonnes, while the company also lowered C1 cash cost guidance for three mines. Today's retreat appears driven by sector-wide profit-taking pressure amid broader metals weakness.

(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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It does not constitute investment advice or a basis for trading decisions.)</p></p>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"01208","symbol_name":"五矿资源","start_time":0,"source_url":"","article_id":"1182401174","we_media_id":"1054767329","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1182401174","pubTimestamp":1784856918,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Market Focus","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1054767329","head_image":"https://static.tigerbbs.com/51943b2858f75e05ca2ebb144b4e626a"},"summary":"On July 24, MMG fell 3.2% in regular trading, trading at HKD 8.36/share, with turnover of HKD 18.26 million. 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