Antofagasta (LON:ANTO) Releases Earnings Results

Antofagasta (LON:ANTO) announced its quarterly earnings results on Tuesday. The mining company reported GBX 129.30 EPS for the quarter, Digital Look Earnings reports. Antofagasta had a net margin of 11.96% and a return on equity of 8.52%.

Here are the key takeaways from Antofagasta’s conference call:

• Record 2025 results: revenue rose 30% to $8.6bn, EBITDA increased 52% to $5.2bn (60% margin) and operating cash flow was $4.3bn.
• Fully funded growth pipeline on track: Centinela second concentrator and Los Pelambres growth projects remain on time and on budget, targeting ~30% production uplift with commissioning work through 2027 and first full-year output in 2029.
• Strong cost position: five‑year low net costs with Los Pelambres at ~$0.82/lb and Centinela ~$0.75/lb, aided by by‑product credits and a competitiveness program saving ~$0.08/lb.
• Balance sheet and cash dynamics: cash >$4bn and net debt/EBITDA broadly stable through peak CapEx, but working capital rose (shipments in transit/higher year‑end prices) and the effective tax rate increased to 36%.
• Sustainability and permitting progress: fatality‑free >4 years, desalination/recirculated water expansion, Zaldívar EIA approved to extend mine life, and Chilean reform momentum that could shorten permitting and lower corporate tax.

Antofagasta Stock Down 3.3%

Shares of Antofagasta stock opened at GBX 3,869.21 on Thursday. Antofagasta has a 1 year low of GBX 1,278 and a 1 year high of GBX 4,176. The stock has a market cap of £38.14 billion, a price-to-earnings ratio of 34.95, a PEG ratio of -1.08 and a beta of 1.00. The company has a debt-to-equity ratio of 65.33, a current ratio of 2.14 and a quick ratio of 2.78. The firm’s 50-day moving average is GBX 3,476.10 and its two-hundred day moving average is GBX 2,846.73.

Wall Street Analyst Weigh In

A number of brokerages recently commented on ANTO. JPMorgan Chase & Co. reissued an “overweight” rating on shares of Antofagasta in a research note on Thursday, February 5th. Royal Bank Of Canada reiterated a “sector perform” rating and set a GBX 2,700 target price on shares of Antofagasta in a research report on Wednesday, January 21st. Canaccord Genuity Group cut shares of Antofagasta to a “hold” rating and boosted their price target for the stock from GBX 3,165 to GBX 4,100 in a research report on Wednesday, February 4th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Antofagasta from GBX 2,300 to GBX 2,400 and gave the company a “hold” rating in a research report on Wednesday, November 26th. Finally, Morgan Stanley cut shares of Antofagasta to an “underweight” rating and dropped their price objective for the stock from GBX 3,070 to GBX 3,050 in a research note on Tuesday, February 3rd. Three research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Antofagasta currently has an average rating of “Hold” and a consensus target price of GBX 2,992.86.

Key Stories Impacting Antofagasta

Here are the key news stories impacting Antofagasta this week:

• Positive Sentiment: Record FY results: Antofagasta said full‑year EBITDA and earnings hit new highs, supported by stronger copper prices — a direct boost to margins and cash flow. Antofagasta posts record FY earnings, Chesnara to acquire Scottish Widows Europe
• Positive Sentiment: Core profit surge: Reported core profit rose sharply (about +52% year-on-year), underscoring how higher copper prices are lifting underlying profitability. Antofagasta’s 2025 core profit climbs 52 on soaring copper prices
• Neutral Sentiment: Guidance maintained: Management kept the 2026 production outlook and reported 2025 EBITDA roughly in line with expectations — the steady operational outlook reduces downside surprise risk. Antofagasta reports in-line 2025 EBITDA and keeps 2026 output outlook; shares dip
• Neutral Sentiment: Sector tailwinds remain: Coverage notes broad investor interest in copper and miners (including BHP and Antofagasta) as markets position for stronger copper demand — a positive backdrop but exposure is commodity‑price dependent. Miners BHP and Antofagasta cash in on soaring copper demand as investors pile into metals
• Negative Sentiment: Top‑line and operating-profit misses: Revenue and operating profit were reported below analyst expectations, which likely triggered part of the share weakness despite strong headline EBITDA. Antofagasta posts revenue, operating profit below analyst expectations
• Negative Sentiment: Market reaction: Several reports note that shares dipped despite soaring revenue — investors appear to be focusing on mixed beats/misses and near‑term guidance nuances rather than just headline profit gains. Antofagasta’s shares dip despite soaring revenue

About Antofagasta

Antofagasta plc is a copper mining group with significant by-product production and interests in transportation. The Group creates value for its stakeholders through the discovery, development and operation of copper mines. The Group is committed to generating value in a safe and sustainable way throughout the commodity cycle.