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Last 802.00 GBp
Change Today -5.50 / -0.68%
Volume 2.6M
As of 11:35 AM 04/28/15 All times are local (Market data is delayed by at least 15 minutes).

antofagasta plc (ANTO) Snapshot

Open
802.50 GBp
Previous Close
807.50 GBp
Day High
808.50 GBp
Day Low
792.50 GBp
52 Week High
07/29/14 - 861.50 GBp
52 Week Low
01/14/15 - 620.00 GBp
Market Cap
7.9B
Average Volume 10 Days
2.9M
EPS TTM
0.47 GBp
Shares Outstanding
985.9M
EX-Date
04/23/15
P/E TM
26.3x
Dividend
0.21 GBp
Dividend Yield
1.71%
Current Stock Chart for ANTOFAGASTA PLC (ANTO)

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antofagasta plc (ANTO) Details

Antofagasta plc, through its subsidiaries, engages in the exploration, development, and mining of copper; transportation of freight by rail and road; and distribution of water primarily in Chile. Its Mining division owns and operates copper mines, including Los Pelambres, Centinela, and Michilla projects in Chile. This division primarily produces copper concentrates containing by-products, such as molybdenum, gold, and silver; and produces copper cathodes. The company’s Transport division provides rail cargo services in Chile and Bolivia, as well as road cargo and other ancillary services in Chile. It transports copper cathodes from and sulphuric acid to mines in the Antofagasta region; and zinc and lead concentrates from Bolivia via the border town of Ollagüe, as well as provides cargo transfer, shipment, and storage services. Its Water division operates a concession for the distribution of water in the Antofagasta region; and supplies potable desalinated water to domestic and commercial customers through its pipe network of 1,140 kilometers. The company was founded in 1888 and is based in London, the United Kingdom. Antofagasta plc is a subsidiary of Metalinvest Establishment.

6,500 Employees
Last Reported Date: 04/14/15
Founded in 1888

antofagasta plc (ANTO) Top Compensated Officers

Group Chief Executive Officer and Member of B...
Total Annual Compensation: $523.0K
Compensation as of Fiscal Year 2014.

antofagasta plc (ANTO) Key Developments

Antofagasta Seeks Acquisitions

Antofagasta plc (LSE:ANTO) seeks acquisitions. Antofagasta is looking into selling its Michilla mine ahead of its closure at the end of the year when it runs out of ore. There is no current buyer and it will close regardless. "After closing, eventually we could have a smaller company take over and continue to operate there, but at a lower capacity, if there is someone interested that can fit our expectations," said Chief Executive Officer Diego Hernandez.

Teck Resources Denies Acquisition Of Antofagasta

Teck Resources Limited (TSX:TCK.B) reportedly is seeking acquisition of Antofagasta plc (LSE:ANTO). “Teck Resources Ltd. and Antofagasta Plc have explored a merger that would create one of the world’s largest copper producers,” people with knowledge of the matter said. “The companies have held early-stage talks, and any agreement hinges on the approval of the families that control both miners,” the people said, asking not to be identified discussing private information. “There’s no guarantee they will reach a deal, which would be primarily stock based,” the people said. Teck and Antofagasta said Monday in separate statements they aren’t currently in negotiations. Teck Resources Limited said it has taken note of press reports to the effect that it is in discussions with Antofagasta plc regarding a possible merger. Teck reports that it is not in discussions with Antofagasta in relation to any form of transaction, and there are no other corporate developments that justify any significant movement in its share price.

Antofagasta plc Announces Consolidated Earnings Results for the Year Ended December 31, 2014; Provides Capex Guidance for the Year 2014 and 2015

Antofagasta plc announced consolidated earnings results for the year ended December 31, 2014. For the period, the company reported group revenue of $5,290.4 million compared to $5,971.6 million a year ago. Operating profit from subsidiaries was $1,639.7 million compared to $2,172.1 million a year ago. Total profit from operations, associates and joint ventures was $1,635.6 million compared to $2,157.7 million a year ago. Profit before tax was $1,573.5 million compared to $2,083.5 million a year ago. Profit for the financial year attributable to equity holders of the company was $459.8 million or 46.6 cents per basic share compared to $659.6 million or 66.9 cents per basic share a year ago. Net cash from operating activities was $1.820.9 million compared to $1,705.5 million a year ago. Purchases of property, plant and equipment were $1,646.3 million compared to $1,344.8 million a year ago. EBITDA was $2,221.6 million compared to $2,702.2 million a year ago. The group operations continued to generate significant cash, $2.5 billion, during 2014. The main reason for cash movement during the year were the payment of the $0.861 2013 final dividend, which included to $849 million plus the 2014 interim dividend of $115 million; secondly, capital expenditure of $1,646 million, which includes $707 million spend on the Antucoya project; and an increase of $1 billion of net borrowings, which related to new long-term borrowings at Antucoya, Centinela and the transport division and new short-term borrowing at Pelambres, partially offset by repayment at Centinela and Los Pelambres. The net debt position was $1.6 million, or on an attributable basis, the company is in the net cash position of $315 million at the end of the year. Total capex of $1,580 million include sustaining capex and development capex for the company's different projects. The fall in revenue also impacted the company's net earnings as did the deferred tax charge the company had to include arising from the tax changes in Chile last year. The company's sustained capex is expected to come down m in 2015. In 2016, the company expects to keep sustained capex below 2014 levels as the company work to achieve levels of capex per tonne of production similar to comparable efficient producers. This reduction requires significant effort and discipline.

 

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Industry Analysis

ANTO

Industry Average

Valuation ANTO Industry Range
Price/Earnings 25.8x
Price/Sales 2.2x
Price/Book 1.9x
Price/Cash Flow 25.8x
TEV/Sales 2.2x
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