MMG Delivers Record 2025 Earnings and Strengthens Balance Sheet

MMG ( (HK:1208) ) just unveiled an announcement.

MMG reported record financial performance for 2025, driven by strong production growth across copper, zinc, gold and silver and supported by favourable commodity prices, particularly from its flagship Las Bambas operation. Revenue rose 39% to a historic high of US$6.22 billion, net profit after tax nearly tripled to US$955.2 million, and EBITDA and EBIT reached record levels, while the group maintained a Total Recordable Injury Frequency of 2.06 per million hours worked.

The miner strengthened its balance sheet by cutting net debt to US$3.35 billion and reducing its gearing ratio to a record low 33%, aided by substantial dividends from the MLB joint venture and early repayment of US$500 million of Khoemacau borrowings. Operationally, all major assets posted higher output and EBITDA, and MMG further enhanced its capital structure with a US$500 million zero-coupon convertible bond issue to refinance shareholder debt, improving financial flexibility and supporting future expansion, particularly at Khoemacau and Kinsevere.

The most recent analyst rating on (HK:1208) stock is a Buy with a HK$13.10 price target. To see the full list of analyst forecasts on MMG stock, see the HK:1208 Stock Forecast page.

More about MMG

MMG Limited is a Hong Kong–incorporated resources company focused on the exploration, development and production of base and precious metals, notably copper and zinc, with additional output of gold and silver. Its key operations include the Las Bambas copper mine in Peru, Kinsevere in the Democratic Republic of Congo, Khoemacau in Botswana and the Dugald River zinc mine in Australia, giving it a geographically diversified mining portfolio aligned to global demand for critical minerals.

Average Trading Volume: 58,133,233

Technical Sentiment Signal: Buy

Current Market Cap: HK$133.9B

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