|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||11.21 - 11.21|
|52 Week Range||9.47 - 13.24|
|Beta (5Y Monthly)||0.90|
|PE Ratio (TTM)||16.96|
|Forward Dividend & Yield||0.48 (4.19%)|
|Ex-Dividend Date||Sep 04, 2019|
|1y Target Est||25.40|
Copper prices will rebound in the coming months from a downturn in demand caused by the coronavirus outbreak in China, Chilean mining minister Baldo Prokurica said on Tuesday. China reported its fewest new coronavirus infections since January on Tuesday and its lowest daily death toll for a week, but the World Health Organization said data suggesting the epidemic had slowed should still be viewed with caution. China is the world's top copper consumer, and Chile is the red metal's top producer.
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U.K. stocks inched higher on Tuesday as traders waited for more news on the deadly coronavirus outbreak before pushing in either direction.
Looking ahead to 2020, the miner reiterated its target to produce between 725,000 tons and 755,000 tons of copper, between 180,000 ounces and 200,000 ounces of gold, and between a range of 12,500 tons and 14,000 tons of molybdenum.
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British stocks began the new year with a bang on Thursday but the pound slipped as 2020 started with the same old Brexit fears.
The FTSE 100 climbed to its highest level since August on Wednesday, as Donald Trump ramped up hopes of a trade deal between the U.S. and China.
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Chile's Codelco, the world's top copper miner, said it had resumed normal operations after its unionized workers struck a deal with government officials late Wednesday to end a day-long walk-off amid a week of raucous protests throughout Chile. The Copper Workers Federation (FTC), which includes unionized workers from each of Codelco's divisions, had joined a nation-wide strike of state workers in a show of support for protesters' demands for action to tackle inequality in Chile.
Copper producer Antofagasta Plc said on Wednesday protests in Chile could cut its production by about 5,000 tonnes, equivalent to less than 3% of third quarter output, due to delays in supplies and travel disruptions for workers. The London-listed miner, which has four mines in Chile and employs about 19,000 people, kept its annual forecast unchanged at 750,000-790,000 tonnes of copper this year but said 2020 output would be lower at 725,000-755,000 tonnes. Antofagasta produced 197,000 tonnes of copper in the third quarter, 0.8% lower than the previous three months but up on the 188,300 tonnes produced a year earlier.
Chilean copper miner Antofagasta Plc said on Tuesday it would ask regulators for more time to answer questions about an environmental impact study for its Zaldivar mine, which draws water from Chile's lithium-rich Atacama salt flat. Chilean regulators last year delayed their review of Zaldivar's environmental study amid rising concerns over dwindling water supplies at Atacama. The Atacama salt flat is home to lithium miners SQM and Albemarle Corp, which together produce one-third of the world's supply of the ultralight battery metal.
A trade war between the United States and China is depressing the price of copper and the red metal would be 5% to 15% higher without the dispute, the chairman for Chile's Antofagasta Plc told a Chilean newspaper on Sunday. "Without the commercial war, I am convinced that the price of copper would be between $3.20 and $3.50 per pound," Jean-Paul Luksic said in an interview with El Mercurio. The bruising trade war, which has slowed the global economy, is clouding the outlook for demand from top metals consumer China.
Antofagasta said on Wednesday production in the quarter was bolstered by better quality ore and higher output, mainly at its Centinela mine, and kept its annual output forecast of 750,000-790,000 tonnes unchanged. The FTSE 100 company, majority-owned by Chile's Luksic family, said production in the first quarter of 2019 rose to 188,600 tonnes from 153,800 tonnes a year earlier. Total copper production at Centinela was 68,800 tonnes, 45.5 percent higher than 2018.
Chilean copper miner Antofagasta Plc announced on Tuesday a higher-than-expected dividend for 2018, sending its shares to a seven-month high, though core earnings dropped in line with analysts' projections. The company, majority-owned by Chile's Luksic family, lowered its 2018 total dividend by 14 percent to 44 cents per share compared to the prior year, but beat the 26 cents expected by analysts, according to Refinitiv Smart Estimates. "The dividend is strong and equates to a significant portion of our earnings, it's a positive surprise to what was expected," Chief Executive Iván Arriagada told Reuters.