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    ANTO   GB0000456144

ANTOFAGASTA PLC

(ANTO)
  Report
Delayed London Stock Exchange  -  11:35 2022-12-02 am EST
1434.50 GBX   +2.06%
12/01LONDON BROKER RATINGS: RBC cuts Anglo American to 'sector perform'
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11/30LONDON MARKET CLOSE: European markets in the green; US GDP rises
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Miner Antofagasta's profit slumps on costs, drought

08/11/2022 | 03:05am EST
FILE PHOTO: The Wider Image: 'We beg God for water': Chilean lake turns to desert, sounding climate change alarm

LONDON (Reuters) - Antofagasta posted a fall in half-year profit on Thursday, as higher costs, lower grades and a persistent drought in Chile hit the miner's copper production.

It said it would slash its interim dividend to 9.2 cents per share from a record 23.6 cents last year, joining fellow miners including Rio Tinto, and Anglo American in lowering payouts after last year's bonanza.

Mining firms have also warned about future returns on fears that slower growth or recession in key markets could dent commodity demand in the next few months.

London-listed Antofagasta, majority owned by Chile's wealthy Luksic family, saw its earnings before interest, tax, depreciation, and amortisation (EBITDA) for the first six months fall to $1.24 billion, compared with $2.4 billion last year.

Antofagasta's profit surged to its highest ever in 2021 when copper prices reached record levels, allowing it to make a record shareholder payout of $1.4 billion for the year.

It said it remains on track to produce its revised guidance of 640,000-660,000 tonnes of copper for the full year.

"We expect the remainder of the year to look very different from the first half - as production improves quarter-on-quarter," Chief Executive Iván Arriagada said.

(Reporting by Clara Denina and Muhammed Husain; Editing by Shailesh Kuber and Alexander Smith)

By Clara Denina


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
ANGLO AMERICAN PLC -0.17% 3296 Delayed Quote.9.28%
ANTOFAGASTA PLC 2.06% 1434.5 Delayed Quote.7.17%
RIO TINTO PLC -0.25% 5584 Delayed Quote.14.15%
All news about ANTOFAGASTA PLC
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Analyst Recommendations on ANTOFAGASTA PLC
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Financials (USD)
Sales 2022 5 464 M - -
Net income 2022 595 M - -
Net Debt 2022 823 M - -
P/E ratio 2022 28,5x
Yield 2022 2,06%
Capitalization 17 323 M 17 323 M -
EV / Sales 2022 3,32x
EV / Sales 2023 3,24x
Nbr of Employees 6 883
Free-Float 34,5%
Chart ANTOFAGASTA PLC
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Technical analysis trends ANTOFAGASTA PLC
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 17
Last Close Price 17,57 $
Average target price 13,86 $
Spread / Average Target -21,1%
EPS Revisions
Managers and Directors
Ivßn Arriagada Herrera Group Chief Executive Officer
Mauricio Ortiz Chief Financial Officer
Jean-Paul Luksic Fontbona Non-Executive Chairman
Vivianne Blanlot Soza Independent Non-Executive Director
Jorge Bande Bruck Independent Non-Executive Director
Sector and Competitors
1st jan.Capi. (M$)
ANTOFAGASTA PLC7.17%17 323
FIRST QUANTUM MINERALS LTD.7.76%16 651
VEDANTA LIMITED-8.02%14 295
SOCIEDAD MINERA CERRO VERDE S.A.A.-19.42%10 502
JIANGXI COPPER COMPANY LIMITED-9.46%7 132
KGHM POLSKA MIED? S.A.-15.21%5 297