|Bid||836.60 x 38000|
|Ask||837.20 x 120000|
|Day's Range||829.00 - 840.40|
|52 Week Range||713.20 - 1,171.50|
|Beta (3Y Monthly)||0.98|
|PE Ratio (TTM)||15.19|
|Earnings Date||Mar 12, 2018 - Mar 16, 2018|
|Forward Dividend & Yield||0.34 (3.73%)|
|1y Target Est||11.28|
In December 2018, Antofagasta plc (LON:ANTO) announced its most recent earnings update, which signalled that the...
By Muvija M and Shashwat Awasthi (Reuters) - UK blue-chip stocks rose slightly on Friday, recouping the session's losses as mining stocks gave investors something to cheer about at the end of a largely ...
A trade war between the United States and China is depressing the price of copper and the red metal would be 5% to 15% higher without the dispute, the chairman for Chile's Antofagasta Plc told a Chilean newspaper on Sunday. "Without the commercial war, I am convinced that the price of copper would be between $3.20 and $3.50 per pound," Jean-Paul Luksic said in an interview with El Mercurio. The bruising trade war, which has slowed the global economy, is clouding the outlook for demand from top metals consumer China.
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The FTSE 100 and the FTSE 250 lost 0.6 percent each. Sainsbury's tumbled 4.7 percent to a near three-year low after the supermarket chain scrapped its proposed 7.3 billion pound takeover of Walmart-owned Asda after the deal was blocked by Britain's competition regulator. "The failure of securing a merger with Asda leaves the group in a bit of a vacuum, with leadership and strategic uncertainties the byproduct of the CMA's rebuttal," Jefferies analysts said.
Anglo American said on Thursday technical problems dragged first-quarter production down 6 percent, but copper output rose, as did that of iron ore from its Minas-Rio mine in Brazil, which ramped up operations after a leak last year. The stock extended losses from the prior session, when JPMorgan warned of a $900 million cut to 2020 core profit if Minas-Rio failed to obtain a Brazilian tailings permit by the end of the year. JPMorgan downgraded the stock to "neutral" from "overweight", saying the share no longer looked cheap.
Antofagasta said on Wednesday production in the quarter was bolstered by better quality ore and higher output, mainly at its Centinela mine, and kept its annual output forecast of 750,000-790,000 tonnes unchanged. The FTSE 100 company, majority-owned by Chile's Luksic family, said production in the first quarter of 2019 rose to 188,600 tonnes from 153,800 tonnes a year earlier. Total copper production at Centinela was 68,800 tonnes, 45.5 percent higher than 2018.
The global copper industry will be rocked by more disruptions this year than in 2018, contributing to a supply deficit as demand for the red metal continues to grow, the top executive of Chilean miner Antofagasta told Reuters. Antofagasta CEO Ivan Arriagada said labor strife, extreme weather and unexpected project delays will knock as much as a million tonnes off the year's total copper production, versus 600,000 the previous year. "We think this year there will be bigger disruptions than last, which was unusually tranquil," said Arriagada in an interview on the sidelines of CRU's World Copper Conference in Santiago.
Chile's Codelco, the world's biggest copper producer, is "perfectly well financed" for the next two years as it pushes forward with its largest-ever drive to revitalize its aging mines, Chairman Juan Benavides said on Wednesday. State-owned Codelco, which produces nearly one-tenth of the world’s copper, is set to shell out $40 billion in 10 years to overhaul its century-old Chuquicamata and El Teniente mines, among others. "Codelco has its finances in perfect order with respect to our requirements today," Benavides said in an interview with Reuters.
Chilean miner Antofagasta Plc will retain its dividend policy of paying out at least 35 percent of underlying net earnings but will pay out excess funds from the proceeds of sales to shareholders, its chief executive said. "If you look at the last three or four years, we have been distributing close to around 50 percent of net earnings.
Despite these challenges, the industry is planning for substantial growth in the next decade thanks to an expected boom in production of electric vehicles, which use twice as much copper as internal combustion engines. Meanwhile, global visible inventory in the form of combined stocks held by the London Metal Exchange, Comex and the Shanghai Futures Exchange have nearly halved from a year ago to around 500,000 tonnes, data from the exchanges show.
Freeport-McMoRan: Bulls Short of Ideas amid Macro UncertaintyFreeport-McMoRan Leading US-based copper miner Freeport-McMoRan (FCX) has been trading largely sideways this month, which is not surprising, considering copper price trends. Although copper
Chile's Antofagasta expects to reach an agreement with miner BHP to help ensure water supply at its Zalidvar copper mine in the country's northern desert, a company official told a Chilean newspaper on Friday. Antofagasta needs access to water for the future development of its Zaldivar copper deposit, which is near BHP's Escondida mine, the world's largest copper mine. Zaldivar's size, however, does not justify investing in its own desalination plant to bring water in from the Pacific ocean, Antofagasta has said.
By Shashwat Awasthi and Yadarisa Shabong (Reuters) - Financial stocks and housebuilders slipped after British Prime Minister Theresa May asked the European Union to delay Brexit and caused the FTSE 100 ...
The FTSE 100 was up 0.3 percent. The domestically-focused FTSE 250 was up 0.3 percent as investors waited for further Brexit developments with reports that Prime Minister Theresa May would ask the European Union to delay Brexit by at least three months. May's Brexit plans were derailed after the speaker of Britain's parliament said on Monday that her deal could not be voted on again after two thumping defeats unless a different proposal was submitted.
Chilean copper miner Antofagasta Plc announced on Tuesday a higher-than-expected dividend for 2018, sending its shares to a seven-month high, though core earnings dropped in line with analysts' projections. The company, majority-owned by Chile's Luksic family, lowered its 2018 total dividend by 14 percent to 44 cents per share compared to the prior year, but beat the 26 cents expected by analysts, according to Refinitiv Smart Estimates. "The dividend is strong and equates to a significant portion of our earnings, it's a positive surprise to what was expected," Chief Executive Iván Arriagada told Reuters.
Pakistan's military is taking a key role in the development of one of the world's biggest untapped copper and gold deposits, which is currently stalled by a multi-billion dollar legal wrangle with foreign mining firms, multiple sources familiar with the situation said. The Reko Diq mine has become a test case for Prime Minister Imran Khan's ability to attract serious foreign investment to Pakistan as it struggles to stave off an economic crisis that has forced it to seek an International Monetary Fund bailout. Ten current and former provincial and federal government officials and mining sources familiar with the project in the Baluchistan region say the military has become the most important voice on the future of Reko Diq, which it sees as a strategic national asset.
Freeport-McMoRan: Party Continues as Chinese Copper Imports SurgeChinese copper imports Freeport-McMoRan (FCX) surged 6.9% yesterday, boosted by an upgrade from Morgan Stanley to “overweight.” The financial services company lowered its price
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Chilean copper miner Antofagasta Plc is evaluating building a new concentrator plant at its Centinela mine that would cost around $3 billion, the chief executive of the company was quoted telling a local daily on Sunday. Antofagasta's copper production rose 3 percent to 725,300 tonnes last year, allowing the company to weigh potential expansion projects and upgrades, Ivan Arriagada said, according to an interview published in La Tercera. "The best option is to build a new concentrator plant (at Centinela), and we're in the feasibility stage of that initiative," Arriagada was quoted saying in the paper.
Does Freeport-McMoRan Stock Look Attractive after the Sell-Off?(Continued from Prior Part)What to expect this yearAs we noted in the previous article, Freeport-McMoRan (FCX) witnessed a selling spree after its fourth-quarter earnings release. Its
By Muvija M and Shashwat Awasthi (Reuters) - British share indexes posted their first weekly losses of 2019 with the main bourse closing in the red for a fourth straight day, as Vodafone tumbled and a ...
The FTSE 100 company stuck to its production estimate for the coming year and forecast higher capital spending in 2019 of $1.2 billion, which it said would go partly towards the expansion of its flagship Los Pelambres mine in Chile. The mine already pumps out about half of Antofagasta's copper output. Antofagasta's fourth-quarter production jumped to 220,000 tonnes from 177,800 tonnes reported a year earlier.