Antofagasta Share Discussion Threads

[sajad37] 01/5/2007 11:33

hold on for this until 3 may, ist quater trading update

[jaafar1] 01/5/2007 11:28

Heavy selling already started

[sajad37] 30/4/2007 12:10

9 may, share to dip by 20-30 pence

[chrissingh] 30/4/2007 11:33

When is the ex-divi date?

[wrightey] 27/4/2007 16:29

am I correct in thinking that next div will be a big one?

[grgkecer] 26/4/2007 11:00

Next week should see Q1 Production Report.

[monman] 11/4/2007 18:10

with the rise in copper prices being sustained this looks like a good investment at the moment

[grgkecer] 11/4/2007 07:07

azalea

64.2 cents is presumably for the first six months (66.2c in 2006H1). It would have been based on copper prices lower than they now are, and lower than 2006H1.


The recent rise in Cu price would suggest a higher figure for 2007H1.

[setanta3] 10/4/2007 23:14

might as well speak to myself! "it did a bit today!

[setanta3] 10/4/2007 09:50

why is'nt this one heading up conidering the price of copper?

[azalea] 09/4/2007 08:23

Am I missing something?

The IC reports FY results for ANTO -
2006 Ptx $BN 2.86 Eps Cts 137.4

Numis Securities expects 2007 Ptx $BN 1.194 Eps 64.2 cts

Despite the above the IC gives a 'buy' recc.

[binladin] 28/3/2007 21:59

BUY SPS AND SKP AND DOUBLE YOUR MONEY IN 3 WEEKS

[gardenarc] 28/3/2007 07:15

gosh grgecer that sounds interesting

[grgkecer] 28/3/2007 07:11

LUKSIC ANNOUNCES US$3 BILLION MINING INVESTMENTS
(March 28, 2007) Antofagasta Minerals - the mining branch of Chile's powerful Luksic group – has announced investments of US$3 billion over the next four years. The company hopes to increase copper production from 465,000 tons in 2006 to around 800,000 tons by 2011. (Santiago Times.)

[jezboy1] 24/3/2007 14:30

sajad - yep that would explain the rise, seems this bid story rolls round
once every 3 months or so.... any reason to suspect this time it might hold water?

[sajad37] 22/3/2007 18:53

As base- and precious-metal prices climbed, mining stocks supported, with BHP Billiton up 1.4 percent, and Rio Tinto (Stuttgart: 855018 - news) gaining 2.1 percent.

Antofagasta (LSE: ANTO.L - news) climbed 3.9 percent as some traders cited vague bid speculation.

[lundhousegreen] 14/3/2007 07:15

Antofagasta optimistic on copper in spite of a fall in prices
By Stephen Seawright
Last Updated: 2:39am GMT 14/03/2007



Mining giant Antofagasta believes copper prices could rise again after recently declining from last year's record levels.

Antofagasta copper being transported by rail. Demand
for copper should continue growing this year .

However, Antofagasta cautioned that the "exceptional" average copper price of last year may not be repeated in 2007. In addition, the price for molybdenum, a metal that is used to strengthen steel, will also remain robust this year, the company predicts.

Chief executive Marcelo Awad said: "We currently expect copper and molybdenum markets to remain well above historical levels in 2007.

"However, the exceptional average copper price of 2006 might not be repeated and the recent volatility that has characterised the market is likely to continue."

Copper prices on the London Metal Exchange fell last month to around 240 cents per pound, 40pc below the peak reached last year.

Demand for copper should continue growing this year as increased Chinese consumption is likely to offset an expected moderate slowdown in the US economy.

This forecast follows similar predictions from other mining giants such as Rio Tinto and BHP Billiton.

While copper supply is expected to increase this year, Antofagasta said it may suffer from declining grades of the metal together with equipment constraints and labour shortages.

The company's copper production is expected to be about 2pc lower this year at 456,000 tonnes because of minor reductions at each of the group's mines. Antofagasta unveiled an 86pc surge in pre-tax profit to $2.9bn (£1.5bn), while turnover rose 58pc to $3.9bn.

A final dividend of 43 cents - which includes a 38 cents special payout - is payable on June 14. The total for the year is a record 48.2 cents - more than double the preceding year's 22 cents.

The special dividend came as a surprise. But with the company left with net cash of $1.47bn some analysts questioned whether the payout was enough, while others wondered if the company might be considering making further acquisitions.

The shares were up 2p at 476½p this morning.

[grgkecer] 13/3/2007 11:52

The size of the special dividend was greater than I expected. Net cash is little more than £700M and what is not required for financing future developments (at Los Pelambres, Esperanza, and Antucoya - Buey Muerto as well as Reko Diq and Sierra Gorda) will no doubt be useful for further significant acquisitions ($523M on Tethyan and Equatorial in 2006, offset by minor disposals). With copper over $6,000 per tonne, and moly back over $30 per lb, profits in 2007 should anyway permit another good dividend.

[maiseymouse] 13/3/2007 10:18

was the special div a surprise? not sure. listen UBS reckons the company is still sitting on £700m too much cash

that bodes well for future distributions. what do u guys think?

[jlwilliams] 13/3/2007 10:00

amazing... did they say something about a poor outlook, to cancel out the good results?

[lundhousegreen] 13/3/2007 08:23

Maybe later on after the analysts briefing at 9-30am ?

[uncleoswald] 13/3/2007 08:02

EPS 137 c = 71p , in line with consensus estimates.
Fair P/E 7? , gives share price of 497p , plus 25p (48c)special dividend,
share price could go above 500p today.