Morgan Stanley expects MMG to have a stable profit performance this year, rating it as "Overweight."

Morgan Stanley published a research report indicating that MMG (1208.HK) saw its net profit rise by 215% year-on-year to USD 509 million last year, reaching the median of its earlier guidance. The bank expects the group to continue recording robust profits this year and noted that operations at the Las Bambas mine remain stable, while the situation at the Kinsevere mine in the Democratic Republic of the Congo is improving. It is anticipated that power supply will become more stable in the coming years, and depreciation and amortization are also expected to decrease. The bank maintains its target price at HKD 10, with a rating of "Overweight."