BARCLAYS CUTS ANTOFAGASTA PRICE TARGET TO 1,100 (1,200) PENCE - 'UNDERWEIGHT' |
GOLDMAN SACHS RAISES ANTOFAGASTA PRICE TARGET TO 1,750 (1,700) PENCE - 'NEUTRAL' |
That was quite a price spike up to 1475. |
Exactly , they all seem to talk their own book ;-) |
JEFFERIES CUTS ANTOFAGASTA PRICE TARGET TO 1,900 (2,000) PENCE - 'BUY' |
DEUTSCHE BANK CUTS ANTOFAGASTA PRICE TARGET TO 1,310 (1,320) PENCE - 'HOLD' |
RBC CUTS ANTOFAGASTA PRICE TARGET TO 1,000 (1,050) PENCE - 'UNDERPERFORM' |
DEUTSCHE BANK CUTS ANTOFAGASTA PRICE TARGET TO 1,320 (1,350) PENCE - 'HOLD' |
Copper miner Antofagasta posts bumper profits
The company is building a desalination plant at Los Pelambres, which will become operational next year, to help with the water shortages.
“Once it’s built . . . we have got the water requirements addressed from the potential shortages we might have,” ....Iván Arriagada, Antofagasta’s chief executive |
Investors Chronicle:
Antofagasta profits soar but production falters
Copper miner to hand out hefty interim payout but flags water shortage as a risk to production
August 19, 2021
A looming fall in the copper price is not ideal for Antofagasta but it is in net cash and looks to soon have a fix to its water issues.
Buy. |
There was some support for Antofagasta from Peel Hunt analysts, however, after they stuck by their target price of 1,545p, compared with 1,403p after today's 67p fall.
The 280.6% hike in dividend to 23.6 cents a share, amounting to $233 million and in line with a commitment to pay 35% of net earnings, was broadly in line with the broker's expectations. It will be paid to shareholders on October 1.
Peel Hunt said Antofagasta shares still offered appealing exposure to copper and that the pull back for shares due to slower growth rates in China's economy offered an opportunity.
The broker said: “We would use further pull backs to add to positions, as we continue to expect copper prices to rally over the next two years.”
Counterparts at Deutsche Bank are less optimistic and recently placed a “sell” recommendation on Antofagasta, naming Glencore as their preferred pick for copper exposure due to self-help measures, an undemanding valuation and strong cash flows.
ii.co.uk |
JPMORGAN CUTS ANTOFAGASTA PRICE TARGET TO 1,460 (1,490) PENCE - 'NEUTRAL' |
Antofagasta slumps 5% on production downgrades |
How long will it take Chinese to develope one of the biggest mine in Afghanistan?Not good for this share and Glenmore as Chinese are know for flooding the market as we seen in Steel industry. |
Questor: this copper miner offers growth potential as we move towards a low-carbon future
Questor share tip: Antofagasta’s solid financial position should allow it to capitalise on a long-term imbalance between demand and supply |
1210p looks next support, if this keeps on falling. |
Yes rather be in gold and silver miner. |
Copper continues to slide |
Amazed holding above 1500p. |
Diku, think your right 1210p my new target. |
So you don’t know |
Will Chile bring this copper royalty tax in, Peru elections now, will they follow Chile and bring in copper royalty tax, sticking to gold and silver pure mining companies in Russia for the time being. |
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