Market's view on Antofagasta
Published on April 2024
- There are comments on the production of 33300 ounces of gold in the first quarter.
- Discussions around stock performance at all-time high and influence of rising copper price.
- Broker recommendations, such as equal weight, under weight, over weight, are considered confusing and compared to casino and circus.
- Updates on Antofagasta’s price target cuts by Barclays to 1,270 pence and increase by JPMorgan to 1,080 pence are shared.
- Positive sentiment on good set of results and dividends increased by 11.7%.
- Predictions on the share price getting closer to the April high and potential to rise to 1700 mentioned.
- Disappointment is expressed regarding the 1300 results.
- The share is perceived to be continuously profitable, especially with an 80% increase in 4 months for a FTSE100 share.
- The possibility of the share price falling to 1500p is discussed.
- Antofagasta’s production update is cited, stating an increase in annual copper production to between 670,000 and 710,000 tonnes with net cash costs of $1.65/lb.
- Antofagasta’s share price increase by 1% to 1,760p and near 70% rise in four months is highlighted.
- Deutsche Bank’s price target raise of Antofagasta to 1,400 pence is shared.