Antofagasta reported a 7% quarter-on-quarter increase in copper production to 151,900 tonnes, missing analyst estimates of 158,000 tonnes. While the company maintained its 2026 production guidance, it introduced 2027 targets that were softer than market expectations. Consequently, shares fell 7% as investors reacted to the outlook and growing concerns over rising fuel costs and future expansion plans.
The miner's stock fell after quarterly copper output of 151,900 tonnes missed analyst estimates of 158,000 tonnes, alongside cautious production guidance for 2027.
Read the full storyThe miner reported production growth to 151,900 tonnes in Q3 driven by Los Pelambres, while maintaining its 2026 output targets despite rising cost forecasts.
