---
title: "DBS raises MMG's target price to 9.1 yuan and adjusts copper price forecast"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/267454282.md"
description: "DBS Bank raised the target price for MMG to HKD 9.1 and increased the copper price forecasts for 2025 and 2026 by 3%. It is expected that MMG's earnings will achieve an average annual compound growth rate of 75% from 2024 to 2027, due to the growth in copper and gold sales and the normalization of the Las Bambas mining area. The \"Buy\" rating is maintained"
datetime: "2025-11-26T04:15:00.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/267454282.md)
  - [en](https://longbridge.com/en/news/267454282.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/267454282.md)
---

> Supported Languages: [简体中文](https://longbridge.com/zh-CN/news/267454282.md) | [繁體中文](https://longbridge.com/zh-HK/news/267454282.md)


# DBS raises MMG's target price to 9.1 yuan and adjusts copper price forecast

The DBS research report indicates that it is expected that MMG (01208.HK) will achieve an average annual compound growth rate of 75% in profits from 2024 to 2027, as it anticipates that by 2027, the sales volume of copper and gold will grow at average annual compound rates of 10% and 6%, respectively, along with the normalization of operations at the Las Bambas mine, which will provide support.

The bank expects copper to be the only metal facing a supply shortage next year, due to stable demand growth driven by energy transition, coupled with tightening copper supply; it has raised its copper price forecasts for 2025 and 2026 by 3%, expecting them to reach USD 9,600 per ton and USD 9,900 per ton, respectively. At the same time, it has correspondingly raised its profit forecasts for MMG for the same periods by 12% and 19%; the target price has been raised from HKD 6.8 to HKD 9.1, maintaining a "Buy" rating

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