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Highlights

  • Antofagasta secured a total revenue of US$2,890.1 million in H1 FY23, marking an increase of about 14.3% against US$2,528.2 million in H1 FY22.
  • Its EBITDA rose 7.5% to US%1,331.0 million in H1 FY23, as compared to US$1,237.7 million in the previous corresponding period.
  • During the reporting period, ANTO’s total copper production soared by 10.0% to 295,500 tonnes versus 268,600 tonnes in pcp.

FTSE 100 index listed Antofagasta PLC (LSE: ANTO) is engaged in copper mining with operations at four copper mines across Chile. Alongside, the firm has a transport division in Northern Chile, to serve mining customers.

In the first half of the current financial year, the company secured a total revenue of US$2,890.1 million, marking an increase of about 14.3% against US$2,528.2 million in H1 FY22. ANTO’s EBITDA also rose 7.5% to US%1,331.0 million in H1 FY23, as compared to US$1,237.7 million in the previous corresponding period.

Antofagasta paid an interim dividend of GBX 9.36 per share in September 2023. The annualized dividend yield of the company stands at 3.60% as per itsclosing stock price on 10 October 2023.

Significant production figures

During the reported period, ANTO’s total copper production soared by 10.0% to 295,500 tonnes versus 268,600 tonnes in pcp. Furthermore, the firm’s gold production registered 18.6% increase to 86,200 ounces in the first half of 2023, against 73,800 oz in H1 FY22. The quantity of copper sold was 14.4% higher during the reported period, while the quantity of gold sold increased 7.2% in H1 FY23.

The production is expected to rise by an average of 170,000 tonnes per year of copper equivalent following current exploration activities at Centinela. The company expects total production of copper to range from 640,000 tonnes to 670,000 tonnes for the full year 2023.

 

Top 10 shareholders
Approximately 73.63% of the total shareholdings is held by ANTO’s top ten shareholders collectively. While E. Abaroa Foundation holds the maximum number of shares with over 60% shareholding, Luksic (Jean-Paul) is the second highest stakeholder in the firm with around 4.26% shareholding. 

 

Stock price Performance

ANTO’s stock price has gained around 0.66% in the last three months. It has declined by  approximately 6.86% over the last six months. The stock’s 52-week low and high price stand at GBX 1,053.50 and 1,837.50, respectively.

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference data for all price data, currency, technical indicators, support, and resistance levels is 10 October 2023. The reference data in this report has been partly sourced from EODHD/Others.