Antofagasta (ANTO)

Sector:

Mining

Index:

FTSE 100

2,039.00p
   
  • Change Today:
      54.00p
  • 52 Week High: 2,045.00
  • 52 Week Low: 1,293.00
  • Currency: UK Pounds
  • Shares Issued: 985.86m
  • Volume: 769,321
  • Market Cap: £20,102m
  • RiskGrade: 186

Deutsche Bank upgrades Antofagasta, Kaz after coronavirus correction

By Michele Maatouk

Date: Wednesday 05 Feb 2020

LONDON (ShareCast) - (Sharecast News) - Deutsche Bank upgraded its stance on shares of Antofagasta and Kaz Minerals on Wednesday following the recent correction on concerns about the impact of the coronavirus.
The bank upped Antofagasta to 'hold' from 'sell' and lifted the price target to 850p from 840p. DB upgraded Kaz Minerals to 'buy' from 'hold', with an unchanged target price of 610p.

It noted that Antofagasta shares are down around 15% since mid-January, having suffered an "aggressive" correction following the outbreak of the coronavirus, while Kaz has fallen more than 20% since the outbreak.

DB pointed out that Antofagasta is one of the very few large-scale, low-risk copper producers globally.

"We expect the company to maintain its premium valuation driven by its long-life asset base, established track record and strong balance sheet," it said, adding that the group's limited free cash flow generation and political uncertainties in Chile prevent a more bullish view.

"However, 2020 should represent a trough volume year with higher volumes and lower costs expected in 2021 with the start-up of the Los Pelambres expansion and higher grades at Centinela," it said.

DB also said that it expects an above-consensus special dividend to be announced for FY19 at the full-year results in March.

As far as Kaz is concerned, the bank put the upgrade down to valuation, a positive copper outlook and potential project de-risking catalysts from the second half of this year.

"While the Baimskaya project is an impediment for some investors, we find the current valuation too compelling to ignore. The core Kazakh operations continue to perform well, are low cost and highly cash generative," it said.

At 1320 GMT, Antofagasta shares were up 4% at 892.20p and Kaz shares were 5.7% higher at 500p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Antofagasta Market Data

Currency UK Pounds
Share Price 2,039.00p
Change Today 54.00p
% Change 2.72 %
52 Week High 2,045.00
52 Week Low 1,293.00
Volume 769,321
Shares Issued 985.86m
Market Cap £20,102m
RiskGrade 186

Antofagasta Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
99.6% below the market average99.6% below the market average99.6% below the market average99.6% below the market average99.6% below the market average
100% below the sector average100% below the sector average100% below the sector average100% below the sector average100% below the sector average
Price Trend
89.26% above the market average89.26% above the market average89.26% above the market average89.26% above the market average89.26% above the market average
90.21% above the sector average90.21% above the sector average90.21% above the sector average90.21% above the sector average90.21% above the sector average
Income
98.23% below the market average98.23% below the market average98.23% below the market average98.23% below the market average98.23% below the market average
91.3% below the sector average91.3% below the sector average91.3% below the sector average91.3% below the sector average91.3% below the sector average
Growth
54.22% below the market average54.22% below the market average54.22% below the market average54.22% below the market average54.22% below the market average
12.5% below the sector average12.5% below the sector average12.5% below the sector average12.5% below the sector average12.5% below the sector average

What The Brokers Say

Strong Buy 4
Buy 0
Neutral 6
Sell 6
Strong Sell 1
Total 17
neutral
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Antofagasta Dividends

  Latest Previous
  Final Interim
Ex-Div 18-Apr-24 31-Aug-23
Paid 10-May-24 29-Sep-23
Amount 24.30¢ 11.70¢

Trades for 28-Mar-2024

Time Volume / Share Price
17:19 313 @ 2,039.03p
17:19 5,038 @ 2,039.03p
17:15 395 @ 2,039.00p
17:08 20 @ 2,017.89p
16:35 415,511 @ 2,039.00p

Antofagasta Key Personnel

Chair Jean-Paul Luksic

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