- Copper production in Q2 2024 was 155,300 tonnes, missing the estimate of 161,612 tonnes.
- Gold production for the same period was 33,600 ounces, below the estimated 51,303 ounces.
- Molybdenum production stood at 2,500 tonnes, also below the estimate of 2,965 tonnes.
- Total production for 2024 is expected to be at the lower end of the company’s guidance range of 670-710,000 tonnes.
- Adjusted cash cost guidance is now expected to be $2.40/lb before by-product credits and $1.70/lb after by-product credits, based on current spot prices.
- The effective tax rate for H1 2024 is projected to be around 43%, influenced by the new mining royalty implemented in 2024.
- CEO Iván Arriagada mentioned a 20% increase in copper production in Q2, bringing H1 2024 output close to H1 2023 levels despite lower grades at Los Pelambres and Centinela.
- Centinela’s Q2 2024 production was affected by lower recoveries due to elevated levels of clay and fines in ores processed.
- Market sentiment indicates 3 buys, 9 holds, and 7 sells for Antofagasta plc shares.
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A look at Antofagasta PLC Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 2 | |
| Dividend | 2 | |
| Growth | 3 | |
| Resilience | 3 | |
| Momentum | 5 | |
| OVERALL SMART SCORE | 3.0 |
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 company that owns and operates copper mines in Chile, has a mixed outlook based on Smartkarma Smart Scores. The company scores moderately in terms of Value and Dividend potential, indicating room for improvement in these areas. However, Antofagasta PLC shows stronger potential in Growth and Resilience, which points towards positive long-term prospects in terms of expansion and sustainability. In addition, the company’s high Momentum score suggests strong market momentum and performance. Overall, Antofagasta PLC‘s Smart Scores paint a picture of a company with promising growth and resilience prospects in the long term.
Antofagasta PLC‘s operations in Chile, where it owns copper mines and conducts exploration activities, position the company well for potential growth and resilience. Additionally, the company’s involvement in operating a rail network and managing water distribution in the mining region of northern Chile adds to its diversified portfolio. With a balanced mix of scores across different areas like Growth, Resilience, and Momentum, Antofagasta PLC appears to be strategically positioned for long-term success in the industry. Investors may find value in monitoring how the company leverages its strengths to capitalize on the opportunities present in the market.
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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