Boliden Stock Struggles Amid Weaker Metals Prices and Rising Costs

Boliden AB's stock has been trading near its recent lows in Stockholm due to weaker metals prices and rising input costs. The Nordic mining and smelting group reported a decline in profit for the full-year 2024, with earnings before interest and taxes (EBIT) falling to SEK 8.25 billion from SEK 12.70 billion in 2023.

The revenue declined by approximately 5% year on year, totaling SEK 76.09 billion in 2024 compared to SEK 80.20 billion in 2023. The drop was mainly due to lower realized prices for key metals such as copper, zinc, and nickel, which offset modest gains in ore throughput at several sites.

The company's net income attributable to shareholders also decreased from SEK 9.40 billion in 2023 to SEK 6.10 billion in 2024, cutting earnings per share and limiting Boliden's flexibility to raise dividends despite a still-solid balance sheet.