中银国际：升五矿资源目标价至 8.63 港元 重申 “买入” 评级
Bank of China International released a research report stating that MMG's copper and zinc production in the third quarter of 2025 is expected to increase by 11% and 26% respectively compared to the same period last year, mainly due to the strong performance of the Las Bambas, Kinsevere, and Dugald River mining areas. As the Las Bambas mining area has operated steadily so far this year, the company has raised its full-year copper production guidance for this mine to 400,000 metric tons. The bank believes this production level can be maintained over the next two years. Accordingly, the bank has raised its earnings forecast for MMG for the fiscal years 2026 to 2027 by 7%, and the target price has been adjusted from HKD 8.41 to HKD 8.63. The rating is reiterated as "Buy."
According to the Zhitong Finance APP, BOC International released a research report stating that MMG (01208) is expected to see its copper and zinc production increase by 11% and 26% respectively in the third quarter of 2025 compared to the same period last year, mainly due to the strong performance of the Las Bambas, Kinsevere, and Dugald River mines. As the Las Bambas mine has been operating steadily so far this year, the company has raised its full-year copper production guidance for this mine to 400,000 tons. The firm believes this production level can be maintained over the next two years. Accordingly, the firm has raised its earnings forecast for MMG for the fiscal years 2026 to 2027 by 7%, and the target price has been adjusted from HKD 8.41 to HKD 8.63. The rating is reiterated as "Buy."
