Antofagasta (LON:ANTO) Issues Earnings Results

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

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 Performance

Shares of ANTO opened at GBX 3,787 on Wednesday. The stock has a market capitalization of £37.33 billion, a price-to-earnings ratio of 34.21, a PEG ratio of -1.08 and a beta of 1.00. Antofagasta has a 12 month low of GBX 1,278 and a 12 month high of GBX 4,176. The firm has a fifty day simple moving average of GBX 3,454.50 and a 200 day simple moving average of GBX 2,838.61. The company has a current ratio of 2.14, a quick ratio of 2.78 and a debt-to-equity ratio of 65.33.

Trending Headlines about Antofagasta

Here are the key news stories impacting Antofagasta this week:

• Positive Sentiment: Record earnings and EBITDA — Antofagasta reported record FY EBITDA and a sharp rise in core profit, driven by higher copper prices, which boosts cash generation and underwriting of dividends/capex. Antofagasta FY EBITDA hits new high on strong copper prices
• Positive Sentiment: Commodity tailwinds — Coverage notes the company (and peers) are capitalizing on strong copper demand/prices, supporting higher profits and free cash flow outlook for the sector. Copper prices push Antofagasta profits to new record
• Neutral Sentiment: In-line EBITDA and unchanged output outlook — Management kept the 2026 production outlook unchanged and reported EBITDA roughly in line with expectations, limiting upside surprises for investors. Antofagasta reports in-line 2025 EBITDA and keeps 2026 output outlook; shares dip
• Neutral Sentiment: Quarterly details available — The company released Q4 earnings (GBX 129.30 EPS) and supporting slides/call; investors can review the deck and call for detail on costs, volumes and FX exposure. Listen to Conference Call
• Negative Sentiment: Revenue and operating profit below forecasts — Some outlets flagged that revenue and operating profit fell short of analyst expectations, which can pressure valuation multiples despite strong commodity-driven EBITDA. Antofagasta posts revenue, operating profit below analyst expectations
• Negative Sentiment: Market reaction: shares dipped — Multiple reports note shares fell on the results day as investors reacted to the mixed data (beat on EBITDA but misses elsewhere and no upgrade to 2026 production), suggesting sentiment is driving near-term weakness. Antofagasta’s shares dip despite soaring revenue

Wall Street Analysts Forecast Growth

ANTO has been the topic of several recent analyst reports. Canaccord Genuity Group lowered shares of Antofagasta to a “hold” rating and lifted their price objective for the stock from GBX 3,165 to GBX 4,100 in a research note on Wednesday, February 4th. Berenberg Bank reissued a “buy” rating and issued a GBX 2,900 target price on shares of Antofagasta in a research note on Friday, November 7th. Morgan Stanley downgraded Antofagasta to an “underweight” rating and lowered their price target for the stock from GBX 3,070 to GBX 3,050 in a report on Tuesday, February 3rd. JPMorgan Chase & Co. reaffirmed an “overweight” rating on shares of Antofagasta in a research report on Thursday, February 5th. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and set a GBX 2,700 price objective on shares of Antofagasta in a report on Wednesday, January 21st. Three equities 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 MarketBeat, the company has an average rating of “Hold” and a consensus price target of GBX 2,992.86.

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.