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G Sachs Raises MMG Limited (01208.HK) TP to HKD13.5; May Pay First Dividend in a Decade on Earnings Improvement
Recommend 6 Positive 11 Negative 6 |
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G Sachs said in a report that MMG Limited (01208.HK) recorded net profit of USD509 million for the full year of 2025, surging 215% YoY, with EPS of USD0.042, up 174% YoY. Excluding one-off items including net foreign exchange gains and impairment charges, recurring net profit reached USD816 million, broadly in line with the banks estimates and above market expectations. The company announced no final dividend, unchanged from last year. Based on its global commodities teams latest copper price forecasts, the bank raised its earnings forecasts for MMG Limited for 2026 to 2027 by 3% to 20% and introduced a new forecast for 2028. It expects recurring net profit of the pure copper play to surge from USD820 million in 2025 to USD1.75 billion in 2026, nearly doubling, mainly driven by sustained increases in copper prices and contributions from lower finance costs through deleveraging. With improving earnings, the bank expects MMG Limited to have the opportunity to begin paying its first dividend in a decade starting from 2026. It maintained a Buy rating and lifted the TP from HKD13 to HKD13.5. (ha/w) This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. Auto-translated by AI AASTOCKS Financial News |
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