Antofagasta's Copper Production Likely to Be Lower Than First Thought, Peel Hunt Says -- Market Talk

Dow Jones04-07

1042 GMT - Antofagasta's first quarter production is likely to be softer than initially expected, Peel Hunt analysts say in a note, citing a report by the Chilean copper commission Cochilco. Peel Hunt now forecasts 136,000 metric tons of copper for the quarter, a drop of 23% compared with the fourth quarter. The brokerage also cuts its full-year copper production forecast to 642,000 tons. Peel Hunt cut its full year revenue and adjusted Ebitda estimates to $8.8 billion and $5.3 billion, respectively, to reflect the lower production. Peel Hunt raises its rating on the London-listed company to reduce from sell, but cuts its target price on the stock to 31.55 pounds from 32.85 pounds. Shares are up 0.9% at 34.89 pounds. (ian.walker@wsj.com)

(END) Dow Jones Newswires

April 07, 2026 06:43 ET (10:43 GMT)

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Peel Hunt cut its full year revenue and adjusted Ebitda estimates to $8.8 billion and $5.3 billion, respectively, to reflect the lower production. Peel Hunt raises its rating on the London-listed company to reduce from sell, but cuts its target price on the stock to 31.55 pounds from 32.85 pounds. Shares are up 0.9% at 34.89 pounds. 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Peel Hunt now forecasts 136,000 metric tons of copper for the quarter, a drop of 23% compared with the fourth quarter. The brokerage also cuts its full-year copper production forecast to 642,000 tons. Peel Hunt cut its full year revenue and adjusted Ebitda estimates to $8.8 billion and $5.3 billion, respectively, to reflect the lower production. Peel Hunt raises its rating on the London-listed company to reduce from sell, but cuts its target price on the stock to 31.55 pounds from 32.85 pounds. Shares are up 0.9% at 34.89 pounds. 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Peel Hunt cut its full year revenue and adjusted Ebitda estimates to $8.8 billion and $5.3 billion, respectively, to reflect the lower production. Peel Hunt raises its rating on the London-listed company to reduce from sell, but cuts its target price on the stock to 31.55 pounds from 32.85 pounds. Shares are up 0.9% at 34.89 pounds. 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