Antofagasta's 2027 Output Guidance Shows No Growth, RBC Says
RBC analysts say Antofagasta's 2027 copper guidance sits below its initial range and implies no growth on 2026; shares slip 6.5% to 3,341 pence.
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what happened
Analysts Ben Davis and David Monus at RBC say in a note that Antofagasta's 2027 guidance points to no growth compared with the original 2026 guidance the miner issued. Earlier this year, the company lowered its 2026 copper production outlook to 625,000-655,000 metric tons from the 650,000-700,000 metric tons it had first expected.
The 2027 range also falls below the initial range. RBC notes that it was set even though grades at the Los Pelambres mine are expected to improve and a second concentrator at Centinela is expected to be commissioned.
Following the report, Antofagasta shares fell 6.5% to 3,341 pence. Source: Newsmetry API, original report from WSJ Market Talk.
why it matters
For copper markets, the signal matters because the timing of grade improvements and new capacity determines how quickly supply from a major producer can grow.
tags
instruments
sources
- Antofagasta's 2027 Guidance Implies No Growth — Market Talk — Newsmetry API, 15 October 2026 at 08:16 UTC
prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
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