Managem stock reports 166 percent revenue growth as profit rises
Published on 10/04/2026 at 09:50 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS
Managem stock closed at MAD 1,560 on the Casablanca Stock Exchange on October 2, 2026, down 1.83 percent from the prior close of MAD 1,589. The latest catalyst is a sharp first-half 2026 earnings expansion, with revenue reaching MAD 11.764 billion from MAD 4.422 billion a year earlier.
Revenue rises 166 percent
Mining Weekly reported on September 25, 2026, that Managem's first-half profit attributable to shareholders rose to MAD 3.778 billion from MAD 380 million in the same period of 2025. Consolidated revenue more than doubled to MAD 11.76 billion, while the Tizert copper mine in Morocco and the Boto gold mine in Senegal reached full production capacity.
The revenue comparison is the clearest measure of the new operating scale: MAD 11.764 billion in the first half of 2026 versus MAD 4.422 billion in the first half of 2025, a 166 percent increase. The earnings change was even larger, with the reported profit figure rising by MAD 3.398 billion year over year.
Margins expand with new mines
According to LeBrief on September 25, 2026, Managem's IFRS operating margin reached 53 percent at June 30, 2026, compared with 33 percent a year earlier. EBITDA rose to MAD 6.197 billion from MAD 1.442 billion, while operating income reached MAD 4.833 billion from MAD 723 million.
The production ramp-up is now the central financial variable. Tizert and Boto add volume, while the company also reported weaker silver production at Imiter and lower gold production at Tri-K. Managem described the second half of 2026 as a consolidation phase after the two new assets reached nominal capacity.
Stock remains below yearly high
Managem stock traded between MAD 1,560 and MAD 1,607 on October 2, 2026, with volume of 3,110 shares. Its 52-week range was MAD 562.7 to MAD 1,900, leaving the closing price MAD 340 below the high and 17.9 percent below that level.
Market capitalization stood at MAD 185.1 billion as of October 2, 2026. The combination of 166 percent revenue growth and a 20 percentage point operating-margin increase gives the stock a results-driven valuation story, while the weaker Imiter and Tri-K output remains a concrete operating counter-factor.
Managem market snapshot
- Company: Managem S.A.
- Ticker: MNG
- Trading venue: Casablanca Stock Exchange
- Price (as of October 2, 2026): Closing price MAD 1,560
- Market capitalization: MAD 185.1 billion (as of October 2, 2026)
- 52-week range: MAD 562.7-1,900 (as of October 2, 2026)
- Sector / Industry: Basic Materials / Metals and Mining
