BOCI Securities International slightly lowered MMG Resources' target price to HK$4.07, reiterating a "buy" rating.

Golden Ten data, March 6th news, BOC International published a research report, indicating that Minmetals Resources (01208.HK) net profit last year rose 17 times to 162 million US dollars, higher than expected, mainly due to metal prices higher than expected and costs lower than expected. BOC International expects that due to the expected 24% rise in copper production and the pump in metal prices, the group’s profit will further rise 1.3 times this year. After adjusting the performance, the bank raised its profit forecast for this year and next year by 69% and 14% respectively. BOC International pointed out that as the company enters the harvest period, the target price was slightly lowered from the original 4.12 Hong Kong dollars to 4.07 Hong Kong dollars, and reiterated its rating as “buy”.