MMG (1208) AI Stock Analysis

• Market Cap: $50.38B
• Dividend Yield: N/A
• Average Volume (3M): 71.37M
• Price to Earnings (P/E): 34.7
• Beta (1Y): 1.06
• Revenue Growth: 2.70%
• EPS Growth: 1493.33%
• Country: HK
• Employees: 5,195
• Sector: Basic Materials
• Sector Strength: 73
• Industry: Copper
• EPS (TTM): 0.16
• Shares Outstanding: 12,140,530,000
• 10 Day Avg. Volume: 78,568,041
• 30 Day Avg. Volume: 71,365,018
• PEG Ratio: 0.90
• Price to Book (P/B): 1.70
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 8.29
• Enterprise Value/Market Cap: 0.21
• Enterprise Value/Revenue: 0.62
• Enterprise Value/Gross Profit: 4.89
• Enterprise Value/Ebitda: 1.60
• 1Y Price Target: $4.32
• Price Target Upside: 4.03% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 4

• Rating: 70 Outperform
• Price Target: HK$4.50 ▲(8.43%Upside)

The overall stock score of 70 is driven primarily by strong technical performance and solid financials, which are offset by valuation concerns. The stock shows bullish momentum and improved operational efficiency, but the high P/E ratio and absence of dividends affect its valuation attractiveness.

Positive Factors

Earnings Growth

The 73% earnings CAGR projected for 2024-2026 significantly outpaces the average growth of peers.

Growth Potential

Revised earnings forecasts due to accelerating investments in the Khoemacau Copper Mine indicate strong future growth potential.

Valuation

MMG is trading at an attractive valuation, with metrics such as 4.7x EV/EBITDA, 1.0x P/BV, and 10.7x P/E, which are the most attractive among peers.

Negative Factors

Market Risks

Major risks include volatility in metal prices, social and political issues, regulatory changes, and potential operational disruptions.

Project Risks

Potential risks include volatility in metal prices, social and political issues, regulatory changes, and project execution risk.

MMG Business Overview & Revenue Model

Company Description

MMG Limited (1208) is a global resources company that specializes in the exploration, development, and mining of base metal deposits. The company primarily focuses on the production of copper, zinc, and other metals, operating mining sites in Australia, the Democratic Republic of the Congo, and Peru. MMG is committed to sustainable mining practices and aims to deliver shareholder value through the efficient and responsible extraction of mineral resources.

How the Company Makes Money

MMG Limited generates revenue primarily through the sale of copper and zinc, which are extracted from its mining operations. The company operates several key mines, including the Las Bambas copper mine in Peru, which is one of the largest copper mines in the world, and the Kinsevere mine in the Democratic Republic of the Congo. MMG's revenue streams are heavily influenced by global commodity prices, production volumes, and operational efficiencies. The company also engages in strategic partnerships and joint ventures to enhance its operational capabilities and expand its market reach, contributing to its overall earnings.

MMG Financial Statement Overview

Summary

MMG exhibits a strong financial performance with significant improvements in revenue and profitability metrics. The company demonstrates effective leverage management, reflected in a stable balance sheet. While cash flow generation remains healthy, the decline in free cash flow growth rate suggests potential future challenges. MMG's financial health indicates a positive trajectory but requires attention to cash flow sustainability.

Income Statement

MMG's income statement highlights a solid financial performance with notable revenue growth from $4,346.5M in 2023 to $4,479.2M in 2024, a growth rate of 3.06%. The gross profit margin improved significantly, reflecting strong operational efficiency, with the gross profit increasing from $1,513.7M to $2,134.4M. Net income also saw a substantial increase to $161.9M from $9M, greatly enhancing the net profit margin. However, the volatility in net income over the years suggests some instability. The EBIT and EBITDA margins remain strong, indicating robust core earnings.

Balance Sheet

The balance sheet of MMG shows a solid equity position with stockholder equity rising to $3,419M in 2024. The debt-to-equity ratio improved as total debt decreased slightly from $4,854.7M to $4,777M, suggesting cautious leverage management. However, the equity ratio is moderate, indicating a balanced but not overly strong asset-financing structure. Overall, the balance sheet demonstrates stability but leaves some room for improvement in leverage metrics.

Cash Flow

MMG's cash flow statement reveals adequate cash generation with operating cash flow at $1,611.9M in 2024, although it decreased from $1,849.9M in 2023. Free cash flow showed a decline from $1,058.7M to $706.7M, primarily due to increased capital expenditures. The free cash flow to net income ratio has improved, reflecting better cash profitability. However, the decline in free cash flow growth rate is a concern, indicating potential challenges in sustaining cash flow generation.

Breakdown	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	4.48B	4.35B	3.25B	4.25B	3.03B
Gross Profit	2.13B	1.51B	1.56B	2.64B	1.39B
EBITDA	2.05B	1.50B	1.51B	2.58B	1.32B
Net Income	161.90M	9.00M	172.40M	667.10M	-64.70M
Balance Sheet
Total Assets	14.99B	11.90B	12.54B	13.02B	12.30B
Cash, Cash Equivalents and Short-Term Investments	192.70M	447.00M	372.20M	1.26B	192.70M
Total Debt	4.78B	4.85B	5.55B	6.43B	7.33B
Total Liabilities	8.71B	7.59B	8.31B	9.10B	9.63B
Stockholders Equity	3.42B	2.12B	2.14B	1.93B	936.40M
Cash Flow
Free Cash Flow	706.70M	1.06B	267.60M	1.98B	843.60M
Operating Cash Flow	1.61B	1.85B	832.10M	2.55B	1.36B
Investing Cash Flow	-2.97B	-790.00M	-538.70M	-573.70M	-515.80M
Financing Cash Flow	1.10B	-985.10M	-1.18B	-915.20M	-867.20M

MMG Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 4.15
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:1208, the sentiment is Positive. The current price of 4.15 is above the 20-day moving average (MA) of 3.84, above the 50-day MA of 3.42, and above the 200-day MA of 2.83, indicating a bullish trend. The MACD of 0.18 indicates Negative momentum. The RSI at 66.45 is Neutral, neither overbought nor oversold. The STOCH value of 82.91 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:1208.

MMG Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
2899	76 Outperform	$588.16B	15.53	27.63%	0.10%	3.41%	60.46%
0358	76 Outperform	$77.18B	7.73	9.58%	0.32%	-2.20%	0.46%
3993	72 Outperform	$214.42B	11.80	22.95%	0.43%	12.14%	53.33%
1208	70 Outperform	$50.38B	34.73	5.84%	―	2.70%	1493.33%
1818	70 Outperform	$76.52B	46.16	11.20%	0.01%	35.04%	102.30%
1258	70 Outperform	€31.68B	10.07	19.19%	0.57%	5.48%	38.91%
Sector *	59 Neutral	HK$17.74B	4.73	-5.52%	3.33%	-3.57%	-61.41%

MMG Corporate Events

MMG Limited Reports Strong Copper Production Growth in Q2 2025

MMG Limited’s Second Quarter Production Report for 2025 shows significant growth in copper production, with a 59% increase compared to the previous year, largely driven by operations at Las Bambas and Khoemacau. Despite challenges in lead and molybdenum production, the company’s overall performance indicates a strong market position, with strategic acquisitions like Khoemacau contributing to its robust output.

The most recent analyst rating on (HK:1208) stock is a Buy with a HK$3.50 price target. To see the full list of analyst forecasts on MMG stock, see the HK:1208 Stock Forecast page.

MMG Limited Schedules Board Meeting to Approve Interim Results

MMG Limited has announced a board meeting scheduled for August 12, 2025, to approve and publish its interim results for the first half of the year. This meeting is significant as it will provide insights into the company’s financial performance and strategic direction, potentially impacting stakeholders and the company’s market positioning.

The most recent analyst rating on (HK:1208) stock is a Buy with a HK$3.50 price target. To see the full list of analyst forecasts on MMG stock, see the HK:1208 Stock Forecast page.

MMG Limited Projects Significant Profit Increase for H1 2025

MMG Limited has announced a positive profit alert, expecting a significant increase in net profit after tax attributable to equity holders for the first half of 2025, reaching approximately US$340 million compared to US$21 million in the same period in 2024. This substantial growth is attributed to increased production, reduced unit production costs at Las Bambas, and higher commodity prices. The company is still finalizing its financial results, and stakeholders are advised to exercise caution when dealing with shares.

The most recent analyst rating on (HK:1208) stock is a Buy with a HK$3.50 price target. To see the full list of analyst forecasts on MMG stock, see the HK:1208 Stock Forecast page.

MMG Limited Secures Supply Agreement for Khoemacau Project Expansion

MMG Limited has entered into a Supply Agreement with MCC TianGong Group for the procurement of 1,200 cabin houses as part of the early works for the Khoemacau expansion project. This agreement, valued at $7.65 million, is considered a connected transaction due to the relationships between the involved parties. The agreement was reached after a competitive bidding process and is deemed to be on fair commercial terms, benefiting the company’s shareholders by ensuring the necessary infrastructure for the project’s development.

The most recent analyst rating on (HK:1208) stock is a Buy with a HK$3.50 price target. To see the full list of analyst forecasts on MMG stock, see the HK:1208 Stock Forecast page.

MMG Limited Secures Shareholder Approval for AGM Resolutions

MMG Limited announced that all resolutions proposed at its Annual General Meeting (AGM) held on May 22, 2025, were approved by shareholders. The resolutions included the re-election of directors, authorization for the board to fix directors’ remuneration, appointment of Deloitte Touche Tohmatsu as the company’s auditor, and granting of mandates for the issuance and repurchase of shares. The successful passing of these resolutions reflects strong shareholder support and positions the company to continue its strategic initiatives effectively.

The most recent analyst rating on (HK:1208) stock is a Buy with a HK$3.50 price target. To see the full list of analyst forecasts on MMG stock, see the HK:1208 Stock Forecast page.