The copper miner’s shares have come off the high point seen in the last knockings of spring, as the red metal’s price has ebbed.
Attention in Thursday’s results is likely to be directed towards output (and the threat posed by rising costs; profitability and the dividend.
Capital interims to be upbeat
In July, Capital raised its revenue estimate for the current year after a record second quarter driven by a resurgence in gold exploration activity in West Africa. The mining drill fleet operator now expects revenues for the year to end December 2021 to be between US$200-210mln, against previous guidance of US$185-195mln.
Second-quarter revenues jumped 68% to US$54.7mln from US$32.6mln a year earlier and US$44mln in the preceding three months, with fleet utilisation rising to 79% from 58%. Capital said demand for drilling services is good, which should keep utilisation rates high during the second half of 2021.
Investors will look for confirmation of these positive markers for the whole six-month period.
Thursday 19 August
FTSE 100 ex-dividends to knock 19.87 points off the index: Imperial Brands (LSE:IMB) (LSE:IMB) PLC, Ashtead Group (LSE:AHT) (LSE:AHT) PLC, Pershing Square Holdings (LSE:PSH) (LSE:PSH) PLC, GlaxoSmithKline PLC (LSE:GSK) (LSE:GSK), Anglo American PLC (LSE:AAL) (LSE:AAL), Schroders (LSE:SDR) (LSE:SDR) PLC, HSBC Holdings PLC, Hikma Pharmaceuticals PLC (AIM:HIK, OTC:HKMPF) (AIM:HIK, OTC:HKMPF), London Stock Exchange Group PLC (LSE:LSEG) (LSE:LSEG), Abrdn PLC (LSE:ABDN) (LSE:ABDN), M&G PLC (LSE:MNG) (LSE:MNG), Phoenix Group Holdings PLC (LSE:PHNX) (LSE:PHNX), Prudential PLC (LSE:PRU) (LSE:PRU)
Economic data: US initial jobless claims