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<Research>Jefferies Keeps Hold on MMG; 1Q Copper Output Up 9%; Full-Yr Guidance Unchanged
Recommend 7 Positive 9 Negative 11 |
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According to a Jefferies report, MMG (01208.HK) delivered solid results for 1Q26. Its copper production surged by 8.8% YoY to 128,700 tons, 3% above the broker's expectations, mainly driven by strong performance at the Las Bambas and Kinsevere mines. The report also highlighted MMG's decision to keep its full-year Las Bambas copper production guidance (380,000-400,000 tons), Dugald River zinc production guidance (170,000-180,000 tons), and cost guidance unchanged. Jefferies has kept a Hold rating for MMG, with a target price of HKD9.5. Auto-translated by AI AASTOCKS Financial News |
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