Despite lacklustre copper pricing, Antofagasta had a reasonable 2019 – thanks to record-high copper production and better-than-targeted cost savings. Although the full-year dividend was cut c.22% and capex plans are being reassessed in the light of the brewing (COVID-19-related) market uncertainties, Antofagasta remains a better-positioned miner to absorb the effect of copper price volatility. Apart from the ownership of high-quality assets, the group’s balance sheet strength is a
17 Mar 2020
Decent 2019 results; capable of weathering market headwinds
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Decent 2019 results; capable of weathering market headwinds
Antofagasta plc (ANTO:LON) | 2,239 -559.8 (-1.1%) | Mkt Cap: 22,073m
- Published:
17 Mar 2020 -
Author:
Varun Sikka -
Pages:
3
Despite lacklustre copper pricing, Antofagasta had a reasonable 2019 – thanks to record-high copper production and better-than-targeted cost savings. Although the full-year dividend was cut c.22% and capex plans are being reassessed in the light of the brewing (COVID-19-related) market uncertainties, Antofagasta remains a better-positioned miner to absorb the effect of copper price volatility. Apart from the ownership of high-quality assets, the group’s balance sheet strength is a