Cyber Monday Deal: Up to 60% off InvestingProCLAIM SALE

Antofagasta CEO says copper's bullish run not over yet

Published 08/22/2017, 10:34 AM
© Reuters.  Antofagasta CEO says copper's bullish run not over yet
ANTO
-
HG
-
JJC
-
CPER
-
CUPM
-
  • Antofagasta (LON:ANTO) (OTC:ANFGF +2.3%) CEO Ivan Arriagada has been surprised by copper’s surge to a three-year high but thinks prices for the metal can continue to climb.
  • Copper “has come forward because of the performance of China’s economy,” the CEO tells Bloomberg after reporting strong H1 results. “The outlook in emerging markets, especially in China, is much more favorable. We’re seeing sustained growth in copper demand.”
  • The Chilean miner reported H1 EBITDA nearly doubled Y/Y to $1.08B on 42% higher revenue of $2.05B, and copper production rose 7% to 346K metric tons, with full-year output guidance maintained at 685K-720K tons; the company raised its H1 dividend to 10.3 cents/share from 3.1 cents in the same period last year.
  • ETFs: JJC, CPER, CUPM
  • Now read: Antofagasta plc 2017 Q2 - Results - Earnings Call Slides


Original article

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.