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Capstone Copper (ASX:CSC) and Sandfire Resources (ASX:SFR) fell in recent Friday trade due to a fall in copper prices.Capstone Copper shares fell 9% while Sandfire Resources fell 6% in recent trade.
Here are the ASX-listed companies with the biggest losses on Friday.Develop Global (ASX:DVP): -11%, AU$4.77Liontown (ASX:LTR): -9%, AU$1.06Deep Yellow (ASX:DYL): -9%, AU$1.43Paladin Energy (ASX:PDN): -9%, AU$10.33Capstone Copper (ASX:CSC): -9%, AU$14.50PLS Group (ASX:PLS): -8%, AU$4.48GQG Partners (ASX:GQG): -7%, AU$1.12Telix Pharmaceuticals (ASX:TLX): -7%, AU$15.55Westgold Resources (ASX:WGX): -7%, AU$5.44Sandfire Resources (ASX:SFR): -7%, AU$20.91
Shares of Sandfire Resources (ASX:SFR) fell past 2% in recent trading on Thursday as three-month copper futures on the London Metal Exchange rose to $14,858.50 per metric tonne, setting a new record.The copper futures set a fresh record in each of the previous three sessions.Capstone Copper's (ASX:CSC) shares fell 1%.
Copper prices have risen above $14,000 per tonne due to supply tightening on multiple fronts, ANZ Research said in a Thursday report.The export ban on copper concentrate by the Democratic Republic of Congo tightened the market, while copper concentrate production from producers such as Chile and Peru disappointed, with mining output falling in June. China's refined copper output fell 3% year-over-year to 1.1 million tonnes in June.South American production is forecast to contract by 3% to 8.5 million tonnes within the year, marking a consecutive year of decline.Tariff-driven metal flows into the US also continue to distort the global copper balance.The squeeze pushed the cash-to-three-month futures spread to a multi-year high of $400 per tonne before it normalized to around $100 per tonne.BHP Group's (ASX:BHP) shares fell 1% in recent trading on Thursday, while those of Rio Tinto (ASX:RIO) and Capstone Copper (ASX:CSC) rose 1%.
Capstone Copper (ASX:CSC) completed the acquisition of the San Pietro copper-gold-iron-cobalt project in Chile's Atacama Region for $25 million in Capstone shares, according to a late Monday statement by the company.The deal expands the company's district-scale land position by about 16,000 hectares and adds the Rincones and Colla deposits, which host an inferred resource of 492 million tonnes grading 0.2% copper and 0.05 grams per tonne gold, comprising 83 million tonnes of oxide and 410 million tonnes of sulfide resources, per the statement.
Australian shares are poised to rise on Friday, supported by gains in gold prices and a weaker US dollar after easing inflation data reduced expectations for further Federal Reserve rate hikes.Overnight, the S&P 500, the Nasdaq Composite, and the Dow Jones Industrial Average rose 1.7%, 2.8%, and 1.2%, respectively.In the macroeconomy, Australia's producer price indexes data is due at 11:30 am Sydney time.In corporate news, Capstone Copper (ASX:CSC) reported Friday second quarter adjusted earnings of $0.13 per share on revenue of $739.7 million, compared with adjusted earnings of $0.04 on revenue of $543.2 million a year earlier.DPM Metals (ASX:DPM) reported Friday second quarter adjusted basic earnings of $0.95 per share on revenue of $361.5 million, compared with adjusted basic earnings of $0.52 on revenue of $186.5 million a year earlier.Australia's benchmark index fell 0.8%, or 70.9 points, to close at 8,967.70 on Thursday.
Capstone Copper (ASX:CSC) logged $0.13 in adjusted EPS for the second quarter, compared with $0.04 a year ago, a Friday filing showedAnalysts polled by FactSet expected EPS of $0.14.For the three months ended June 30, revenue was $739.7 million versus $543.2 million previously, the Australia-listed miner added. Analysts surveyed by FactSet expected $705 million.The company maintained its 2026 production guidance at 200,000 to 230,000 tonnes of copper, reaffirmed cash cost guidance of $2.45 to $2.75 per payable pound of copper, and kept its total consolidated capital expenditure guidance unchanged at $790 million.
Here are the ASX-listed companies with the biggest gains on Friday.Bravura Solutions (ASX:BVS): +13%, AU$2.31Deep Yellow (ASX:DYL): +9%, AU$1.48Silex Systems (ASX:SLX): +8%, AU$5.64DPM Metals (ASX:DPM): +7%, AU$50.74Metals X (ASX:MLX): +6%, AU$1.38Paladin Energy (ASX:PDN): +6%, AU$10.23Orezone Gold (ASX:ORE): +6%, AU$2.41Weebit Nano (ASX:WBT): +6%, AU$7.72DigiCo Infrastructure REIT (ASX:DGT): +5%, AU$2.62Capstone Copper (ASX:CSC): +5%, AU$12.85
Capstone Copper (ASX:CSC) submitted its Mantos Blancos Phase II project to Chile's environmental impact assessment process, moving forward with plans to extend and expand operations at the Antofagasta-based mine, according to a Monday filing with the Australian bourse.The project will increase sulfide concentrator throughput to at least 27,000 tonnes per day, up from 20,000 tonnes, through the addition of new concentrate filtration, thickening, and tailings filtration systems, as well as upgrades to existing processing facilities, per the filing.The project also proposes the development of a new in-pit tailings storage facility beyond 2030 to support long-term environmental management and ensure continued operational stability, the filing said.The company said a pre-feasibility study is planned for the third quarter, with expanded production expected to commence between 2030 and 2031, subject to regulatory approvals and construction timelines, the filing added.
Capstone Copper (ASX:CSC) finalized new three-year collective bargaining agreements with both unions at its Mantos Blancos Mine in Chile, completing negotiations within the statutory deadline, according to a Monday statement by the company.The agreements are designed to support employees while ensuring the long-term viability of the operation.Mantos Blancos employs about 2,928 people, including 1,822 contractors.
Sandfire Resources (ASX:SFR) shares were marginally lower in recent Thursday trade, while Capstone Copper (ASX:CSC) fell past 1%, after the price of copper declined to a three-week low amid renewed clashes in the Middle East.The US carried out retaliatory strikes against Iran in a move that generated fresh uncertainty for inflation, borrowing costs, and economic growth, Bloomberg reported.The price of copper dropped 0.6% to $13,431 per ton on the London Metal Exchange just ahead of midday in Shanghai, and earlier fell to $13,378 to hit its lowest level since May 20, according to the report.
Here are the ASX-listed companies with the biggest gains on Tuesday.Fisher & Paykel Healthcare (ASX:FPH): +7%, AU$29.55NRW Holdings (ASX:NWH): +3%, AU$7.46Capstone Copper (ASX:CSC): +2%, AU$14.23Wesfarmers (ASX:WES): +2%, AU$77.31Ventia Services Group (ASX:VNT): +2%, AU$6.28Southern Cross Gold (ASX:SX2): +2%, AU$9.86Sims (ASX:SGM): +2%, AU$24.61Alcoa (ASX:AAI): +2%, AU$100.97Codan (ASX:CDA): +2%, AU$41.23Eagers Automotive (ASX:APE): +1%, AU$22.25
Here are the ASX-listed companies with the biggest gains on Friday.Alcoa Corp (ASX:AAI): +4%, AU$93.22South32 (ASX:S32): +4%, AU$4.29Capstone Copper (ASX:CSC): +3%, AU$13.81James Hardie Industries (ASX:JHX): +3%, AU$28.97Evolution Mining (ASX:EVN): +3%, AU$12.18Rio Tinto (ASX:RIO): +2%, AU$186.03NEXTDC (ASX:NXT): +2%, AU$14.91SGH (ASX:SGH): +2%, AU$41.81Lynas Rare Earths (ASX:LYC): +2%, AU$18.92Pilbara Minerals (ASX:PLS): +2%, AU$6.28
Shares of Australia-listed copper producers fell in recent Friday trade as the price of the metal fell from its recent record high.Shares of BHP (ASX:BHP) and Capstone Copper (ASX:CSC) fell past 2% in recent Friday trade, while Sandfire Resources (ASX:SFR) dropped past 4%.
Australian shares are poised to fall on Thursday as oil prices surged more than 6% overnight on renewed Middle East supply concerns and a larger-than-expected draw in US crude inventories.Investors also weighed the United Arab Emirates' decision to exit the Organization of the Petroleum Exporting Countries, adding longer-term uncertainty to global supply dynamics and inflation pressures.Overnight, the Dow Jones Industrial Average fell 0.6%, while the S&P 500 and the Nasdaq Composite closed flat.In the macroeconomy, Small businesses in Australia had a firm start to the year, with the March quarter recording a 7.2% jump in sales. However, higher fuel prices amid the conflict in the Middle East pose a key risk, Xero said Thursday.Australia's international trade price indexes report is due at 11:30 am Sydney time.In corporate news, Capstone Copper (ASX:CSC) reported Thursday first-quarter adjusted earnings of $0.12 per share on revenue of $652.5 million, compared with adjusted earnings of $0.01 on revenue of $533.3 million a year earlier.Mineral Resources' (ASX:MIN) fiscal third-quarter production volume reached 80 million wet metric tonnes (wmt), up from 62 million wmt a year earlier.Woolworths Group (ASX:WOW) reported fiscal third-quarter sales of about AU$18.1 billion, up 4.5% from AU$17.31 billion in the year-ago period.Australia's benchmark index fell 0.3% or 23.7 points to close at 8,687 on Wednesday.
Capstone Copper (ASX:CSC) reported Thursday first quarter adjusted earnings of $0.12 per share, up from $0.01 a year earlier.Analysts polled by FactSet expected earnings of $0.11.Revenue for the three months ended March 31, was $652.5 million, compared with $533.3 million a year earlier.Analysts surveyed by FactSet expected $649 million.The company has maintained its 2026 guidance, targeting copper production of 200,000 to 230,000 tonnes at cash costs of $2.45 to $2.75 per pound.
