- Antofagasta’s Q1 copper production missed estimates, producing 129,400 tonnes against an estimated 156,463 tonnes.
- Gold production was also lower than expected at 33,300 ounces, falling short of the estimated 49,398 ounces.
- Molybdenum production was close to estimates with an output of 2,700 tonnes compared to the estimated 2,866 tonnes.
- Despite these shortfalls, Antofagasta’s full-year guidance remains unchanged.
- The company expects its production profile to rise with each passing quarter for the remainder of the year.
- Group copper production is forecasted to fall within the range of 670-710,000 tonnes as production increases over the year.
- Antofagasta CEO, Ivan Arriagada, stated that the production and cost performances at their mine sites throughout the quarter were in line with expectations.
- Lower grades were observed at Centinela, while product inventories increased at Los Pelambres due to prolonged concentrate pipeline maintenance and cleaning activities that took place in February.
- To summarize the analysis of their stock, there were 4 buy recommendations, 8 hold recommendations, and 7 sell recommendations.
A look at Antofagasta PLC Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 2 | |
| Dividend | 3 | |
| Growth | 3 | |
| Resilience | 3 | |
| Momentum | 5 | |
| OVERALL SMART SCORE | 3.2 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Antofagasta PLC, a copper mining company in Chile and Peru, has received positive Smart Scores in various key areas. With a high Momentum score of 5, the company seems to be performing well in terms of market trends and investor sentiment. Additionally, its scores of 3 in Dividend, Growth, and Resilience indicate a solid foundation for long-term sustainability and potential growth.
While the Value score of 2 suggests that the company may not be undervalued compared to its peers, the overall outlook for Antofagasta PLC appears favorable, supported by its strong scores in other important factors. Investors may view this combination of scores as a signal of stability and growth potential in the long run for this mining and exploration company.
Summary of Antofagasta PLC: Antofagasta plc, owning and operating copper mines in Chile and engaging in exploration activities in Chile and Peru. The Group also manages a rail network in Northern Chile and holds a concession for water distribution in the region.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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