MMG

MMG (1208.HK) opened at HKD 9.00, surged to an intraday high of HKD 9.46 in the morning session, but reversed to close 1.30% lower at HKD 9.08, underperforming the Hang Seng Index. The volatile session was driven by earnings: an initial spike of over 8% followed the June 29 release of record interim net profit (up 164% YoY to USD 897 million) and revenue growth of 61% to USD 4.54 billion, before profit-taking kicked in. The stock remains 24.08% below its 52-week high of HKD 11.96, yet trades above its 20-day (HKD 8.691) and 60-day (HKD 8.257) moving averages, with a YTD decline of 0.44%. BofA Securities raised its target price to HKD 12.0 from HKD 10.0, though concerns linger over copper price trends and the executive reshuffle tied to the USD 1.6 billion mine expansion.

MMG (1208.HK) surged 5.05% to open at HKD 8.84, closing at the same level on a single morning trade, versus yesterday's close of HKD 8.415, with 2.872 million shares changing hands and turnover of HKD 25.09 million. The company reported a record first-half net profit surge of 164% YoY to USD 897 million, revenue up 61% to USD 4.54 billion, and EPS of HKD 0.28 (+155% YoY), with ROE at 31.3%. Bank of America Securities subsequently raised its target price from HKD 10.93 to HKD 12.0, while BOCI reiterated a buy rating citing strong Q2 production. However, the stock still trades 26.09% below its 52-week high of HKD 11.96 and is down 3.07% YTD, though slightly above MA20 (8.578) and MA60 (8.249). While the earnings beat history, the single early trade suggests the market is awaiting further catalysts, as earlier news highlighted macro rate-cut expectations and copper price volatility weighing on resource stocks.

MMG weakened further in the afternoon session, closing down 5.1% at HKD 8.43, reversing from an intraday high of HKD 8.79, forming a spike-and-slip pattern. The stock's decline came despite a record-breaking interim 2026 results, with net profit surging 164% YoY to USD 897 million and revenue rising 61% to USD 4.54 billion, while EPS of HKD 0.28 rallied 155%. However, the price remains nearly 30% below its 52-week high of HKD 11.96 and marginally below the 20-day moving average of HKD 8.447, suggesting the market has already priced in the strong earnings. On the positive side, BofA Securities raised its target price to HKD 12 following the results, and multiple international brokerages maintain buy ratings, providing underlying support.

1208.HK experienced a volatile session with a notable reversal after an initial surge, as the record-breaking interim results were largely priced in and profit-taking emerged amid a pullback in copper prices. The stock opened at HKD 9.27, briefly touched an intraday high of HKD 9.49 during the morning session, then steadily declined to a low of HKD 8.655 in the afternoon, closing at HKD 8.86, down 1.4% from the previous close of HKD 8.985. The company's H1 2026 net profit surged 164% YoY to USD 897 million, with revenue up 61% to USD 4.54 billion, providing a strong fundamental backdrop. BOCI reiterated a Buy rating and raised its target price to HKD 10.93. Despite the strong earnings, the stock has retreated from its 52-week high of HKD 11.96, currently trading 25% below that level with a YTD decline of 1.64%. While it remains above its MA20 (HKD 8.406) and MA60 (HKD 8.275), the close below both moving averages signals a short-term loss of upward momentum.

MMG opened higher and rallied throughout the session, closing at HKD 9.03, up 5.99%, driven by a copper rally and BOCI reiterating its buy rating with a target price of HKD 10.93. The company's Q4 2025 operating revenue grew 33.05% YoY to HKD 13.23 billion, net profit rose 20.54% YoY to HKD 659 million, and operating income surged 63.52% YoY, reflecting strong fundamentals. However, the stock remains 24.5% below its 52-week high of HKD 11.96 and is down 0.99% year-to-date, trading slightly above its MA60 of HKD 8.357 but below the MA20 of HKD 7.938, indicating near-term momentum while still in a medium-term recovery path.