Antofagasta Share Discussion Threads

[philanderer] 10/1/2023 00:25

Can't see one broker who tipped 1700p ;-)

[empirestate] 09/1/2023 10:07

The whole sector has had too much of a good run of late on their share prices, time for a correction i think

[1hughb] 28/11/2022 19:26

Mention of Antofagasta here: Https://youtu.be/LMv0ZJ07oow

[tuftymatt] 28/9/2022 10:31

I got a few more earlier via a limit order I had in play.

[philanderer] 28/9/2022 10:02

Jefferies cuts Antofagasta price target to 1,450 (1,500) pence - 'buy

[grupo guitarlumber] 12/9/2022 08:14

Antofagasta PLC said Monday that works on the Los Pelambres desalination plant project in Chile have been put on hold as a precautionary measure after sea swells overturned a construction platform on Aug. 15.

The mining company said that the Chilean environmental authority requested the suspension on Friday until the clean-up of the sunk equipment carrying fuel or lubricants is carried out to remove the rise of any environmental damage.

The severe sea swells overturned a construction platform, but there has been no significant environmental impact or damage to the works, Antofagasta said. The recovery of the lost equipment and materials is expected to be completed once weather conditions improve.

There has to date been no material impact to the expected completion date of the desalination plant project.



Write to Kyle Morris at [e-mail]



(END) Dow Jones Newswires

September 12, 2022 02:37 ET (06:37 GMT)

[davethehorse] 18/8/2022 11:29

Yup hold on tight...

[davethehorse] 18/8/2022 11:29

Too right it is!!

[elena saratov] 15/8/2022 14:19

Woof! Woof! Woof!
Great share to short with Commodities looking to go into a downturn.

Target 750p.

Let us short this back to the Stone Age!

[tuftymatt] 15/8/2022 08:23

I got a few earlier today as long term I think there is money to be made here.
The divi is still a good one too so let's see. Will add on dips too.
GLAH

[waldron] 11/8/2022 08:45

Antofagasta PLC on Thursday reported a profit drop for the first half of 2022 and reiterated recently-revised guidance for the full year.

The Chile-focused copper mining company made a pretax profit of $679.6 million for the first six months of 2022, down from $1.78 billion a year earlier.

Earnings before interest, taxes, depreciation and amortization plunged 48% to $1.24 billion, reflecting lower copper production and prices, and higher costs. This was slightly below the market consensus of $1.26 billion--provided by Vuma and averaged from 13 analysts' estimates.

Antofagasta declared an interim dividend of 9.2 U.S. cents a share, down from 23.6 cents in 2021.

The group reiterated 2022 guidance, with copper production of 640,000-660,000 metric tons at a net cash cost of $1.65 a pound.

"We expect the remainder of the year to look very different from the first half--as production improves quarter-on-quarter, we ship and sell the concentrate that was impacted by the concentrate pipeline incident, and the desalination plant at Los Pelambres starts, significantly alleviating the issue of water availability," Chief Executive Ivan Arriagada said.



Write to Jaime Llinares Taboada at [e-mail]; @JaimeLlinaresT



(END) Dow Jones Newswires

August 11, 2022 02:42 ET (06:42 GMT)

[waldron] 11/8/2022 08:42

Antofagasta PLC said Thursday that the capital cost estimate for its Centinela Second Concentrator Plant project in Chile has been revised to $3.7 billion from the previous $2.7 billion.

The mining company said this increase reflects design improvements, inflation, and the results of advanced engineering and a detailed execution plan.

Antofagasta is set to make a decision on whether to proceed with the project in early 2023.

The first phase of the project would add annual production capacity of 180,000 metric tons of copper equivalent. A further expansion would increase output to 250,000 tons a year.

As for the Los Pelambres project, Antofagasta said that the desalination plant remains on track for completion in the fourth quarter of 2022, with the concentrator plant expansion expected in early 2023.



Write to Jaime Llinares Taboada at [e-mail]; @JaimeLlinaresT



(END) Dow Jones Newswires

August 11, 2022 02:44 ET (06:44 GMT)

[waldron] 11/8/2022 08:40

OUTLOOK

As previously announced, considering the impact of the concentrate pipeline incident and the risk of continued low water shortages at Los Pelambres, Group copper production guidance for the full year has been revised from 660-690,000 tonnes to 640-660,000 tonnes. The increased rate of production in H2 is based on the precipitation levels to date, the stockpiled concentrates at Los Pelambres and the expected increase in grade at Centinela Concentrates.

Following increases in diesel and other input prices, net cash cost guidance is increased to $1.65/lb, assuming market consensus estimates at the period end of by-product prices, the Chilean Peso exchange rate and inflation for the rest of the year.

The significant decline in the copper price since the beginning of June has reinforced our commitment to control costs, particularly during this period of higher input prices and general inflation.

Although the copper price traded strongly at the beginning of the year averaging $4.49/lb in the first five months, it weakened rapidly in June, ending the half year at $3.74/lb as concerns about the speed of the economic recovery in China and the likelihood of a recession in the United States and Europe increased. These concerns were further heightened by the ongoing conflict in Ukraine and its impact on the availability of energy supplies, trade and stability, particularly in Europe. Given the current global environment of rising inflation and rising interest rates, commodity price volatility is expected to continue over the rest of the year, however the longer term fundamentals for copper remain strong.

[philanderer] 22/7/2022 11:07

mixed..take your pick ;-)

22nd july Barclays overweight tp 1410p
21st july RBC underperform tp 1000p

[tuftymatt] 20/7/2022 08:20

Yeah it seems to news was priced in already which would make sense after the recent share price performance.

Thought I may have seen a sub £10 price but not today so good luck all that hold 👍🏻

[waldron] 20/7/2022 08:07

slightly up at open

[waldron] 20/7/2022 08:05

Antofagasta PLC on Wednesday downgraded 2022 production and cost guidance after an issue at its Los Pelambres project caused copper output to fall 6.5% in the second quarter.

The Chilean copper miner cut full-year production to 640,000-660,000 metric tons, down from its latest guidance of the bottom end of the 660,000-690,000 tons range--revised weeks after the issue at Los Pelambres was identified.

On May 31, Antofagasta detected a leak in the underground pipeline that transports concentrate from its Los Pelambres concentrator plant to the port.

In addition, the company on Wednesday raised 2022 net cash cost guidance to $1.65 a pound from $1.55, reflecting inflation in diesel and other input prices.

For the second quarter, the group reported copper production of 129,800 tons, down from 138,800 tons in the first quarter. Net cash costs a pound jumped to $1.90 from $1.75 in the period.



Write to Jaime Llinares Taboada at [e-mail]; @JaimeLlinaresT



(END) Dow Jones Newswires

July 20, 2022 02:37 ET (06:37 GMT)

[muscletrade] 20/7/2022 07:40

Production lowered, costs up, copper price lower and tax uncertainty. Hardly a great mix, although maybe the market will view it as all priced in. We will find out shortly.

[tuftymatt] 20/7/2022 07:18

It will be interesting to see how the market reacts to that.

I am done trying to call the outcome of trading statements!!

[tuftymatt] 19/7/2022 16:20

Yeah maybe Steve but in these markets you just can't call anything really!!

Good luck to all holders 👍🏻

[stevegrass777] 19/7/2022 16:15

I think you may have missed anto's stint bellow £10.
The way it snapped back above £10 I can't see it doing so for long if at all.

[tuftymatt] 19/7/2022 14:21

This one has come on my radar today and I am thinking of adding if I can get in at around 960.

I agree with some on here who think copper has a solid future and even though a divi of circa 11% may not last, it should still remain very high. Will only take a small position but alongside my RIO holding I think it's a good fit.

Good luck all.