Hong Kong's MMG H1 revenue rises, maintains 2026 production guidance

MMG

11/08/2026 11:33

Overview
Hong Kong mining firm's interim revenue rose 61% yr/yr for six months ended June 2026
Net income attributable to equity holders increased 164% yr/yr for the interim period
Company did not declare a dividend for the period

Outlook
MMG maintains 2026 production guidance at 493,000-528,000 tonnes of copper and 215,000-235,000 tonnes of zinc
Company expects 2026 capital expenditure between $1.6 bln and $1.7 bln
MMG says outlook for its commodities remains positive, citing demand from electrification and infrastructure

Result Drivers
OPERATIONAL EXECUTION - Co said strong operational execution across its asset portfolio drove record interim financial results
HIGHER COMMODITY PRICES - Co attributed revenue and earnings growth to higher realized prices for copper, gold, silver and molybdenum
RECORD COPPER PRODUCTION - Co reported highest first-half copper production since 2018, supporting revenue growth

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
H1 Revenue
 
$4.54 bln
 
H1 Net Income Attributable
 
$897.20 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the specialty mining & metals peer group is "buy"
Wall Street's median 12-month price target for MMG Ltd is HK$11.20, about 24.7% above its August 11 closing price of HK$8.99
The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 9 three months ago

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Aug 10 - Canada's Barrick Mining Q2 profit misses estimates, plans North American IPO by end-2026
Aug 10 - Canada's K92 Mining Q2 profit jumps 116% on mine expansion, infrastructure upgrades

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)