Berenberg lifts Antofagasta to buy after copper sell-off opens the door
Analysts see 16% upside in the Chilean miner, calling the recent share weakness a compelling entry point
Company
Antofagasta PLC
LON:ANTO
Antofagasta is a Chilean-based copper mining group with interests in transport and water distribution. It is listed on the London Stock Exchange and has been a constituent of the FTSE-100 index since 2004.The Group creates value for its shareholders through the discovery, development and operation of copper mining operations. It is committed to sustainable development, embedding safety and sustainability throughout its operations. In the conduct of its activities, it places great importance on health and safety, management of human resources, community relations and environmental matters.
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Antofagasta upbeat as copper price rallies and production recovers
"The recent strength in the copper market is a positive start to the year"
Antofagasta's update to show improving health as 'Doctor Copper' recovers
Antofagasta has guided for output for the year to be at the lower end of its 640-660,000 tonnes
Antofagasta expects to scrape in at the lower end of production guidance
The Chilean copper miner updated the market in its Q3 production statement
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Antofagasta interim earnings slump 48% but sees improvement in second half
"The short-term outlook remains uncertain for copper, inflation, global economics and geopolitics," said chief executive Iván Arriagada
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FTSE 100 closes near session lows on ex-divs, dollar weakness; US stocks off highs after CPI boost
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Copper faces headwinds in the short term but fundamentals solid, suggests RBC
Copper miners remain well-positioned to drive strong free cash flow
Antofagasta agrees issuance pricing of US$500mln of 5.625% senior unsecured notes
The copper producer will use net proceeds from the issuance for debt repayments
Antofagasta production hit by drought in Chile
Copper output was down by 41% compared to three months earlier
Antofagasta agrees deal to exit Reko Diq project in Pakistan
The project was suspended in 2011 owing to a disagreement over the legality of its licensing process
Antofagasta posts record earnings for 2021 on higher copper and molybdenum prices
Underlying earnings (EBITDA) jumped 77% to a record US$4.84bn even amid higher operating costs
Antofagasta gets double upgrade from Barclays
A new royalty levy has also been materially watered down from the original proposal notes the broker.
Antofagasta retains full-year copper output guidance, expects costs to be lower than anticipated
However, the miner expects copper production to decline in 2022 to between 660,000 and 690,000 tonnes
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Antofagasta cuts 2021 production guidance on anticipated lack of rainfall in Chile
Copper production guidance cut to 710-740,000 tonnes from 730-760,000 tonnes