MMG (1208)

Business description

MMG is a mid-tier global resources company that explores, develops and mines base metal deposits around the world. Its headquarters are in Melbourne, Australia, and it is listed on the Hong Kong Stock Exchange.

Share price chart

Share chart

Stock data

Market cap.HK$8729m
Last closeHK$1.65
High / Low (52 weeks)HK$3.4 / HK$1.4
Stock market listingHK
Forecast net debt (US$m)9003
Forecast gearing ratio (%)215
TeamResources - Mining

Price performance

Relative *(3)(2.5)(35.7)

* % Relative to local index

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Company news

Segue Resources lands MMG Ltd investment in Fraser Range nickel project

Fri, 18 Sep 2015 00:19:57 GMT

Two killed in protest at $7.4-billion MMG copper project in Peru

Tue, 29 Sep 2015 01:26:27 GMT

China's MMG Ltd to spend $3 billion to complete Peru mine

Thu, 16 Oct 2014 06:00:28 GMT

Mining completed at MMG Limited's Century mine

Thu, 01 Oct 2015 06:05:26 GMT

Mining Explorers 2014: MMG Ltd.

Fri, 31 Oct 2014 14:49:47 GMT

Y/E Dec Revenue (US$m) EBITDA (US$m) PBT (US$m) EPS (c) P/E (x) P/CF (x)
2013A 2470.0 751.0 123.0 2.0 10.6 1.7
2014A 2480.0 781.0 99.0 2.0 10.6 1.5
2015E 2057.0 651.0 45.0 0.9 23.6 2.4
2016E 3353.0 1815.0 151.0 2.0 10.6 0.7

Last updated on 02/11/2015

Investment summary

MMG reported positive Q315 production results, with total copper and zinc output rising 8% and 6% year-on-year. Despite the recent social unrest near Las Bambas, we currently view the risk of the project being affected as very low. MMG’s strong operational performance warrants a moderate valuation upgrade to HK$3.1/share. In our view, the stock continues to represent an attractive investment opportunity.

Last updated on 30/10/2015

Industry outlook

The copper price remains weak, having recently slid to about US$5,300/t.

Last updated on 29/09/2015

Key management

Jiao Jian, Chairman
Andrew Michelmore, CEO
David Lamont, CFO
Maggie Qin, Head of Corporate Affairs
Marcelo Bastos, COO

Company address

Level 23
28 Freshwater Place
VIC 3006
View website