Antofagasta's Copper Guidance Cut to Hit Consensus Expectations
Dow Jones
Aug 13
0853 GMT - Antofagasta's modest first-half earnings beat is countered by a copper guidance cut that will likely lower full-year Ebitda expectations by a low single-digit percentage, J.P. Morgan analysts write. The miner said it now expects full-year copper production between 625,000 and 655,000 metric tons from a prior target of 650,000 to 700,000 metric tons. This is due to heavy rains in Chile that temporarily halted mining. Shares fall 5.6% to 3,804 pence.
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