MMG Limited logo

MMG Limited

1208.HK

HKSEBasic MaterialsCopper

Latest quote

HK$9.295

−HK$0.03 · -0.32%

Aug 24, 3:15 PM HKT

1208.HK company overview

Regular session · HKT · Market data may be delayed.

Company profile

Company website

MMG Limited operates as an investment holding entity primarily engaged in the discovery, growth, and extraction of a diverse range of base and precious metals. Its portfolio encompasses copper, zinc, gold, silver, molybdenum, cobalt, and lead resources, with operations extending across Australia and various international locations. The company organizes its activities into distinct segments, notably Las Bambas, Kinsevere, Dugald River, Rosebery, and a collection of 'Other' operations. Among its key assets is a 62.5% share in the Las Bambas open-pit mine, which extracts copper and molybdenum in Peru's Apurimac region, Cotabambas. MMG also holds full ownership of the Kinsevere open-pit copper mine, situated in the Haut-Katanga province of the Democratic Republic of the Congo. Further strengthening its global footprint, the company fully controls the Dugald River underground zinc mine, located near Cloncurry in North West Queensland, as well as the Rosebery underground polymetallic base metal mine found on Tasmania's western coastline. Established in 1988 and based in Southbank, Australia, MMG Limited was formerly known as Minmetals Resources Limited until its rebranding in September 2012. It operates as a subsidiary under the umbrella of China Minmetals Corporation.

Industry
Copper
Sector
Basic Materials
Headquarters
AU
CEO
Jing Ivo Zhao
Listed since
Jan 21, 2004
Employees
5,595

Market position

Day range

Current HK$9.295

52-week range

Current HK$9.295

Open
HK$9.59
Previous close
HK$9.325
Volume
49.01M
0.97× average
Average volume
50.51M
Average daily volume
Market cap
119.41B HKD
Beta
1.63
Market reference 1
50-day average
HK$8.1167
+14.52% above average
200-day average
HK$8.6477
+7.48% above average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
17.16B USD
P/E (TTM)
13.46×
P/B (TTM)
2.52×
P/S (TTM)
1.92×
EV / EBITDA
4.97×
Earnings yield
3.73%
Free cash flow yield
10.16%
Dividend yield
0.00%

Profitability & efficiency

Gross margin
50.17%
Operating margin
43.98%
Net margin
13.42%
Return on equity
12.88%
Return on assets
3.33%
Return on invested capital
9.47%

Financial health

Debt / equity
0.54×
Current ratio
0.86×

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends68%43%19%-6%Gross margin, FY2021: 61.95%Gross margin, FY2022: 48.05%Gross margin, FY2023: 34.83%Gross margin, FY2024: 47.65%Gross margin, FY2025: 43.86%Operating margin, FY2021: 61.07%Operating margin, FY2022: 46.95%Operating margin, FY2023: 33.65%Operating margin, FY2024: 46.25%Operating margin, FY2025: 37.58%Net margin, FY2021: 15.68%Net margin, FY2022: 5.30%Net margin, FY2023: 0.21%Net margin, FY2024: 3.61%Net margin, FY2025: 8.19%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 61.95%. Gross margin FY2022 48.05%. Gross margin FY2023 34.83%. Gross margin FY2024 47.65%. Gross margin FY2025 43.86%. Operating margin FY2021 61.07%. Operating margin FY2022 46.95%. Operating margin FY2023 33.65%. Operating margin FY2024 46.25%. Operating margin FY2025 37.58%. Net margin FY2021 15.68%. Net margin FY2022 5.30%. Net margin FY2023 0.21%. Net margin FY2024 3.61%. Net margin FY2025 8.19%.

Income trends

Revenue

6.23B USD+39.02%

Operating income

2.34B USD+12.96%

Net income

510.15M USD+215.10%
Income trends across reported periods6.85B USD4.36B USD1.87B USD−612.82M USDRevenue, FY2021: 4.26B USDRevenue, FY2022: 3.25B USDRevenue, FY2023: 4.35B USDRevenue, FY2024: 4.48B USDRevenue, FY2025: 6.23B USDOperating income, FY2021: 2.6B USDOperating income, FY2022: 1.53B USDOperating income, FY2023: 1.46B USDOperating income, FY2024: 2.07B USDOperating income, FY2025: 2.34B USDNet income, FY2021: 667.1M USDNet income, FY2022: 172.4M USDNet income, FY2023: 9M USDNet income, FY2024: 161.9M USDNet income, FY2025: 510.15M USDFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 4.26B USD. Revenue FY2022 3.25B USD. Revenue FY2023 4.35B USD. Revenue FY2024 4.48B USD. Revenue FY2025 6.23B USD. Operating income FY2021 2.6B USD. Operating income FY2022 1.53B USD. Operating income FY2023 1.46B USD. Operating income FY2024 2.07B USD. Operating income FY2025 2.34B USD. Net income FY2021 667.1M USD. Net income FY2022 172.4M USD. Net income FY2023 9M USD. Net income FY2024 161.9M USD. Net income FY2025 510.15M USD.
Metric (USD)FY2025FY2024FY2023FY2022FY2021
Revenue6.23B USD4.48B USD4.35B USD3.25B USD4.26B USD
Cost of goods sold3.5B USD2.34B USD2.83B USD1.69B USD1.62B USD
Gross profit2.73B USD2.13B USD1.51B USD1.56B USD2.64B USD
Research and development1.5M USD1.4M USD5.3M USD13.6M USD
Selling, general, and administrative387.57M USD151M USD142.1M USD137M USD129.4M USD
Operating expenses391.08M USD62.6M USD51M USD36.1M USD34.9M USD
Interest income17.43M USD124.8M USD4.8M USD15M USD5.4M USD
Interest expense289.93M USD413.5M USD383.9M USD288.1M USD303.2M USD
Depreciation and amortization1.11B USD1.01B USD930.2M USD778M USD873.1M USD
Operating income2.34B USD2.07B USD1.46B USD1.53B USD2.6B USD
Net income510.15M USD161.9M USD9M USD172.4M USD667.1M USD

Company facts updated Aug 24, 2026.

Earnings

EPS beat rate
30%
3 beats, 6 misses, 1 met estimate
Average EPS surprise
-15.47%
10 comparable reports
Latest EPS result
0.56
Estimate 0.71 · Miss by 20.68%

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly EPS actual values compared with estimates0.770.470.17-0.14Q2 '23MissQ4 '23BeatQ2 '24MissQ1 '25MetQ2 '25MissQ1 '26MissQ3 '26MissQ1 '27Estimate
Q2 2023, reported Jun 30, 2023: actual -0.053, estimate 0.074, surprise -172.27%, Miss. Q4 2023, reported Dec 31, 2023: actual 0.061, estimate -0.074, surprise +182.46%, Beat. Q2 2024, reported Jun 30, 2024: actual 0.018, estimate 0.078, surprise -77.26%, Miss. Q1 2025, reported Mar 4, 2025: actual 0.155, estimate 0.155, surprise 0.00%, Met estimate. Q2 2025, reported Jun 30, 2025: actual 0.22, estimate 0.236, surprise -6.75%, Miss. Q1 2026, reported Mar 3, 2026: actual 0.078, estimate 0.156, surprise -50.01%, Miss. Q3 2026, reported Aug 11, 2026: actual 0.56, estimate 0.706, surprise -20.68%, Miss. Q1 2027, reported Mar 9, 2027: actual —, estimate 0.628, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly Revenue actual values compared with estimates38.63B29.32B20.01B10.69BQ2 '23BeatQ4 '23BeatQ2 '24MissQ1 '25MissQ2 '25MissQ1 '26BeatQ3 '26MissQ1 '27Estimate
Q2 2023, reported Jun 30, 2023: actual 14.86B HKD, estimate 12.58B HKD, surprise +18.11%, Beat. Q4 2023, reported Dec 31, 2023: actual 19.13B HKD, estimate 18.03B HKD, surprise +6.15%, Beat. Q2 2024, reported Jun 30, 2024: actual 14.98B HKD, estimate 15.51B HKD, surprise -3.41%, Miss. Q1 2025, reported Mar 4, 2025: actual 19.9B HKD, estimate 20.19B HKD, surprise -1.42%, Miss. Q2 2025, reported Jun 30, 2025: actual 22.11B HKD, estimate 25.14B HKD, surprise -12.06%, Miss. Q1 2026, reported Mar 3, 2026: actual 26.57B HKD, estimate 25.46B HKD, surprise +4.37%, Beat. Q3 2026, reported Aug 11, 2026: actual 35.62B HKD, estimate 36.7B HKD, surprise -2.95%, Miss. Q1 2027, reported Mar 9, 2027: actual —, estimate 36.13B HKD, surprise —, Comparison unavailable.

Corporate actions

Corporate action history

Dividend

Ex-dividend May 23, 2014

HK$0.0729

Special

Record May 26, 2014 · Payment Jun 6, 2014

Dividend

Ex-dividend May 6, 2008

HK$0.025

Semi-Annual

Record May 7, 2008 · Payment Jul 3, 2008

Dividend

Ex-dividend Sep 25, 2007

HK$0.005

Semi-Annual

Record Sep 27, 2007 · Payment Oct 15, 2007

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