Antofagasta (LON:ANTO) Announces Earnings Results

Antofagasta (LON:ANTO) posted its quarterly earnings results on Tuesday. The mining company reported GBX 129.30 earnings per share (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 Trading Down 3.8%

ANTO opened at GBX 3,604 on Tuesday. The firm has a 50 day simple moving average of GBX 3,442.28 and a 200 day simple moving average of GBX 2,827.04. Antofagasta has a fifty-two week low of GBX 1,278 and a fifty-two week high of GBX 4,176. The company has a market cap of £35.53 billion, a price-to-earnings ratio of 32.56, a price-to-earnings-growth 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.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on ANTO shares. Deutsche Bank Aktiengesellschaft boosted their price target on Antofagasta from GBX 2,300 to GBX 2,400 and gave the company a “hold” rating in a research note on Wednesday, November 26th. Morgan Stanley lowered Antofagasta to an “underweight” rating and lowered their price objective for the company from GBX 3,070 to GBX 3,050 in a research note on Tuesday, February 3rd. Berenberg Bank reaffirmed a “buy” rating and issued a GBX 2,900 price target on shares of Antofagasta in a research note on Friday, November 7th. Royal Bank Of Canada reiterated a “sector perform” rating and set a GBX 2,700 price objective on shares of Antofagasta in a research note on Wednesday, January 21st. Finally, JPMorgan Chase & Co. reissued an “overweight” rating on shares of Antofagasta in a report on Thursday, February 5th. Three equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price 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.