Antofagasta Shares Slump 7% on Copper Production Miss and Soft 2027 Guidance

Key Facts

1Antofagasta shares fell 7% to an intraday low of 3,312p following its third-quarter production update.

2Quarterly copper output reached 151,900 tonnes, missing Peel Hunt's estimate of 158,000 tonnes.

3The company issued production guidance for 2027 that was softer than analyst expectations.

Antofagasta shares fell 7% to an intraday low of 3,312p following the release of its third-quarter production update. Proactive Investors reported that quarterly copper output reached 151,900 tonnes, missing Peel Hunt's estimate of 158,000 tonnes. The company also issued production guidance for 2027 that was softer than analyst expectations, triggering a sell-off in the stock.

ANFGF closed at $47.71 on October 14, 2026, prior to the production update that highlighted a gap between actual performance and market estimates. In addition to the production miss, reports indicated that the company's outlook for 2027 fell short of analyst ambitions, weighing on investor sentiment within the mining sector.