MNG stock trades at MAD 1,500 as revenue jumps 166 percent

Published on 10/08/2026 at 05:31 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

MNG stock traded at MAD 1,500 on October 7, 2026, while first half revenue reached MAD 11.764 billion. Net income rose to MAD 3.778 billion.

MNG, MA0000012866, Illustration mit AI erstellt.

Managem stock (ISIN MA0000012866) was last quoted at MAD 1,500 on the Casablanca Stock Exchange on October 7, 2026, unchanged during the session. The latest company figures show a sharp operating expansion in the first half of 2026, with revenue up 166 percent year over year.

Revenue reaches MAD 11.764 billion

According to Le Matin on September 25, 2026, consolidated revenue reached MAD 11.76 billion in the six months ended June 30, 2026, compared with MAD 4.42 billion in the same period of 2025. The increase was attributed to the ramp-up of the Tizert copper mine in Morocco and the Boto gold mine in Senegal, alongside higher precious-metals and copper prices.

The result was not uniform across the portfolio. Production at the Imiter silver mine and the Tri-K gold operation declined during the period, partially offsetting the contribution from the two newer assets, according to Le Matin on September 25, 2026.

Profit and margin accelerate

Managem's net income attributable to shareholders reached MAD 3.778 billion in the first half of 2026, compared with MAD 380 million a year earlier. LeBrief reported that the accounts were prepared under IFRS for the period ended June 30, 2026.

Operating earnings also expanded. EBITDA rose to MAD 6.197 billion from MAD 1.442 billion, while the operating margin reached 53 percent compared with 33 percent in the first half of 2025, according to LeBrief on September 25, 2026. Operating income stood at MAD 4.833 billion, an increase of MAD 4.110 billion from the prior-year period.

Stock remains below yearly high

For investors, the key question is whether the new mines can sustain the first half acceleration while weaker output at established operations is addressed. The company described the second half of 2026 as a consolidation period after Tizert and Boto reached nominal production capacity.

The October 7 market range was MAD 1,490 to MAD 1,540, with volume of 21,200 shares. The 52-week range on the same Casablanca market reference was MAD 1,380 to MAD 9,150, placing the last quoted value well below the year's high.

Market value stays at MAD 178.0 billion

Managem's market capitalization stood at MAD 178.0 billion on October 7, 2026. The combination of rapid first half growth, new mine ramp-up and operational pressure at Imiter and Tri-K leaves production execution as the central variable for the next valuation step.