- Copper production for the third quarter was 179,000 tonnes, missing the estimate of 183,591 tonnes.
- Gold production exceeded expectations, reaching 51,800 ounces against an estimate of 49,619 ounces.
- Molybdenum production was 2,700 tonnes, below the estimated 3,018 tonnes.
- Antofagasta expects to end 2024 at the lower end of its copper production guidance range of 670-710,000 tonnes.
- Destocking of concentrate inventories at Los Pelambres will continue into the fourth quarter.
- Los Pelambres and Centinela met their performance expectations exiting the third quarter.
- Copper production saw a 15% increase in the third quarter due to inventory destocking and improved copper grades and recoveries at Centinela.
- Cash cost guidance for the year remains unchanged, supported by operational improvements and strong gold prices.
- Current analyst ratings include 4 buys, 9 holds, and 8 sells.
“`
A look at Antofagasta PLC Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 2 | |
| Dividend | 2 | |
| Growth | 3 | |
| Resilience | 3 | |
| Momentum | 3 | |
| OVERALL SMART SCORE | 2.6 |
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 engaged in copper mining in Chile, has a mixed outlook based on Smartkarma Smart Scores. The company scores moderately on value and dividend factors, indicating room for improvement in these areas. However, Antofagasta PLC shows promise in growth, resilience, and momentum, with scores of 3 across these categories. This suggests that the company is positioned well for future expansion and has demonstrated strong performance in challenging market conditions.
Overall, Antofagasta PLC‘s outlook is optimistic, with a particularly positive outlook in terms of growth, resilience, and momentum. With a solid foundation in copper mining in Chile and exploration activities in Chile and Peru, the company is well-equipped to capitalize on opportunities in the mining sector and navigate market uncertainties effectively. Despite some areas for improvement, Antofagasta PLC‘s overall Smartkarma Smart Scores indicate a promising long-term trajectory for the company.
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.
Have feedback on this article? Concerned about the content? Get in touch with us directly.
💡 Before it’s here, it’s on Smartkarma
Sign Up for Free
The Smartkarma Preview Pass is your entry to the Independent Investment Research Network
- ✓ Unlimited Research Summaries
- ✓ Personalised Alerts
- ✓ Custom Watchlists
- ✓ Company Analytics and News
- ✓ Events & Webinars
