Antofagasta Q3 Copper Up 7% but 2027 Guidance Disappoints, Shares Fall 4.4%
ANFGF sits 39% above its 52-week low of $32.91 on elevated volume (3.0× avg).
Summary
Antofagasta reported Q3 copper production of 151,900 tons, up 7% quarter-over-quarter, helped by a rebound at Los Pelambres after July flooding and power outages. But the 2027 outlook is the problem: copper output of 630K-690K tons implies no growth versus the original 2026 guidance, and cash costs before byproduct credits are now guided to $2.60-$2.70/lb from $2.40-$2.60/lb on higher global diesel prices. RBC flagged the flat growth profile despite expected grade improvement at Los Pelambres and the second concentrator at Centinela; J.P. Morgan sees mid-single-digit downgrades to 2027 consensus EBITDA. Shares fell 4.4% Thursday. This follows the October 7 strike notice at Centinela, adding labor risk on top of the cost and volume pressure.
At the time of this announcement, ANFGF was trading at $45.60 on OTC in the Energy & Transportation sector, with a market capitalization of approximately $45B. The 52-week trading range was $32.91 to $61.72. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Seeking Alpha.