BUZZ-HK-listed MMG hits over 4-year high on robust H1 earnings

Reuters
Aug 13
BUZZ-HK-listed MMG hits over 4-year high on robust H1 earnings

** Shares of mining group MMG Ltd 1208.HK jump 13.7% to HK$4.8, their highest since May 2021,

** Stock rallies for eighth consecutive session; top pct gainer on Hong Kong's material index <.HSCIM>, which is up 1.6%

** The mining group said its H1 net profit after tax jumped over 600% y/y to $566.3 mln, including a profit of $340 mln attributable to equity holders of the company, driven by increased copper production

** Says higher copper, gold, silver, and zinc prices, and reduced unit costs at Las Bambas, driven by higher copper production, aided the strong growth

** MMG said it achieved record first-half results for both EBITDA and EBIT, which are up 98% and 240%, respectively

** Citi keeps "Buy" on the stock, saying 1H25 net profit is in line

** Hang Seng Commerce & Industry Index .HSNC rises 1.8%, benchmark Hang Seng Index .HSI gains 1.5%

** YTD, stock up 80.1%

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10