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<Research>M Stanley Rates MMG as Overweight, Sees Stable Earnings This Yr
Recommend 6 Positive 8 Negative 3 |
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MMG (01208.HK) saw its net profit rise by 215% YoY to USD509 million last year, reaching the midpoint of its previous guidance, according to a report from Morgan Stanley. In Morgan Stanley's estimate, MMG will continue achieving stable earnings this year. While operations at the Las Bambas mine remain stable, and the situation at the Kinsevere mine in the Democratic Republic of the Congo is improving, power supply is expected to steady in the coming years, and depreciation and amortization will likely diminish. Morgan Stanley has kept a target price of HKD10 on MMG, with a rating of Overweight. AASTOCKS Financial News |
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