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<Research>HSBC Research Raises MMG (01208.HK) TP to $9.1; Copper Fundamentals Improve but ST Upside Limited
Recommend 6 Positive 9 Negative 5 |
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HSBC Global Investment Research’s report indicated that MMG (01208.HK) demonstrated strong growth momentum in 4Q25, with stable copper and zinc production and firmer metal prices. The company was projected to post mild production growth by 2026, with stable output at the Las Bambas mine and production increases at the Kinsevere mine dependent on power supply. Given improvements in copper fundamentals but limited short-term upside, the rating remained Hold. HSBC Global Investment Research raised target price on MMG to HKD9.1 from HKD3.2, applying a target 12x forward PE (previously 9x), implying an upside of approximately 11.9%. AASTOCKS Financial News Website: www.aastocks.com |
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