MMG 1208

Re: MMG 1208

Postby winston » Wed Mar 07, 2018 3:35 pm

Feb 5, 2018

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<Research Report>G Sachs Lifts MMG (01208.HK) Target to $7.2; Rated Buy

Goldman Sachs lifted MMG (01208.HK) 2017-2019 earnings forecast by 16%, 33% and 31% to reflect new LME copper price forecasts.

The broker maintained its positive view to the company, saying that it will be one of the major beneficiaries for rising copper prices.

The investment rating was maintained at Buy with target price revised upward to $7.2 from $5.

Source: AAStocks Financial News
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Re: MMG 1208

Postby winston » Wed Apr 25, 2018 3:12 pm

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MMG(1208)

Analysis:

According to the first quarter production report issued by MMG Limited (1208), its zinc production increased substantially, mainly attributable to accelerated commissioning activities at Dugald River.

The project remains ahead of schedule, below budget and on track to achieve commercial production during the second quarter of 2018.

Driven by the strong contribution from Las Bambas, higher commodities prices and a focus on cash generation, the Group managed to turnaround in 2017, reporting a net profit of US$147 million and a net operating cash flow of US$2.369 billion.

Net debt was reduced by almost US$1.5 billion. (I do not hold the above stock)

Strategy:
Buy-in Price: $5.65, Target Price: $6.15, Cut Loss Price: $5.40

Source: Phillips
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Re: MMG 1208

Postby winston » Wed May 16, 2018 1:58 pm

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March 03, 2018

<Result Ann>MMG(01208.HK) Swings to Annual Net Profit USD147M

MMG(01208.HK) announced the results for the year ended December 2017.

The company swung into net profit of USD147 million, against the loss of USD153 million over a year-ago period.

EPS equaled US1.85 cents; no final dividend was declared.

Source: AAStocks Financial News
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Re: MMG 1208

Postby winston » Tue Jul 24, 2018 9:27 am

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MMG (01208.HK) 1H Copper Cathode Output Up 8% YoY

MMG (01208.HK) announced that the total production of copper cathode amounted to 77,700 tonnes for 1H18, up 8% yearly.

Source; AAStocks Financial News
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Re: MMG 1208

Postby winston » Tue Aug 21, 2018 1:04 pm

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MMG: Expects Las Bambas Mine 2H18 Output to Hike; Keeps Cutting Liability

MMG (01208.HK) CFO Ross Carroll said the mining site at Las Bambas in Peru of the group registered a production volume of 187,000 tons in 1H18, down 15% yearly, due to partially unstable geotechnical conditions.

Yet, the CFO forecast that the production volume of the site will see hike in the 2H18, riding on higher quality and increased handling capacity.

For liability, the CFO hoped the group to reduce debt and interest cost continuously.

For 1H18, he said, the net debt dropped by approximately US$640 million.

Source: AAStocks Financial News
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Re: MMG 1208

Postby winston » Tue Sep 18, 2018 1:50 pm

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MMG Sags over 9%; Estimated 3Q18 Copper Concentrate Production from Peru Mine below Forecast

MMG (01208.HK)'s stock lost 9.3% to HK$3.43 today.

The company announced that as a result of localised wall instability in sections of the Ferrobamba pit at the Las Bambas mine, Peru, copper in concentrate production in the 3Q18 will be below forecast rates.

As a result, the company expected its concentrate production in 2018 to be in the range of 375,000 tonnes to 395,000 tonnes, down from previous guidance of 410,000 tonnes to 430,000 tonnes.

C1 costs are also expected to rise slightly on the lower volumes to US$1.1 to US$1.2 per pound.

Source: AAStocks Financial News
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Re: MMG 1208

Postby winston » Wed Oct 10, 2018 1:20 pm

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<Research Report>Citi Downgrades MMG (01208.HK) to Neutral with Target Cut to $3.9

Citigroup issued a research report covering MMG (01208.HK), stating that the latter had lowered its full-year copper extraction target for its flagship Las Bambas project to 430,000 tons from 410,000 tons.

MMG is downgraded to Neutral from Buy with target cut to $3.9 from $6.6.

Source: AAStocks Financial News
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Re: MMG 1208

Postby winston » Mon Jan 21, 2019 3:48 pm

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MMG (01208.HK) Dives 17%; Sees Red in 2H18 Results

MMG (01208.HK) last stood at $2.96, down 17%, on surging volume of 29.13 million shares, involving $87.01 million.

The company issued a profit alert, expecting the FY2018 results to be below market expectations, where the group is expected to record a net loss after tax of US$50-55 million.

Source: AAStocks Financial News
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Re: MMG 1208

Postby winston » Mon Jan 21, 2019 3:50 pm

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Jan 19, 2019

<Profit Warning>MMG (01208.HK) Sees Turnaround Into 2H18 NL, FY18 Results May Miss

MMG (01208.HK) issued a profit alert of expected net profit after tax (NPAT) for the financial year ended 31 December 2018 of US$135-140 million.

This result may be below market expectations and is largely attributable to the softer second half trading conditions, where the group is expected to record a net loss after tax of US$50-55 million.

Source: AAStocks Financial News
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Re: MMG 1208

Postby winston » Tue Jan 29, 2019 11:02 am

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HOLD (Downgrade from BUY)
Price Target 12-mth:HK$3.10 (14.4% upside) (Prev HK$4.70)

What’s New

2H18 to see a net loss on higher-than-expected expenses
Satisfactory operating results at the new mine
Higher costs to continuously weigh on its earnings, going forward
Cut TP to HK$3.1 and downgrade to HOLD

Source: DBS

https://researchwise.dbsvresearch.com/R ... VyaWRAQA==
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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