While Antofagasta’s 2018 profitability came under immense pressure, its copper production hit a record-high while efficiency measures over delivered by >80%. As a result, dividends weren’t slashed in proportion to profitability erosion. 2019 performance should improve on the back of healthier volumes, more cost controls and somewhat better prices. However, the near-term global copper markets are likely to remain volatile and, hence, further material upside on Antofagasta (after
19 Mar 2019
Despite lower profits, dividend ‘payout’ was healthy
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Despite lower profits, dividend ‘payout’ was healthy
Antofagasta plc (ANTO:LON) | 2,169 -672.4 (-1.4%) | Mkt Cap: 21,383m
- Published:
19 Mar 2019 -
Author:
Varun Sikka -
Pages:
3
While Antofagasta’s 2018 profitability came under immense pressure, its copper production hit a record-high while efficiency measures over delivered by >80%. As a result, dividends weren’t slashed in proportion to profitability erosion. 2019 performance should improve on the back of healthier volumes, more cost controls and somewhat better prices. However, the near-term global copper markets are likely to remain volatile and, hence, further material upside on Antofagasta (after