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Anglo American
(LSE:AAL)
Anglo American (AAL) vs. iShares MSCI United Kingdom ETF (EWC)
Anglo American Business Overview & Revenue Model
Anglo American Earnings Call Summary
Anglo American Financial Statement Overview
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 18.92B | 27.29B | 30.65B | 35.12B | 41.55B |
| Gross Profit | 7.41B | 27.29B | 15.04B | 21.82B | 28.30B |
| EBITDA | 6.16B | 3.32B | 7.27B | 12.44B | 19.73B |
| Net Income | -4.22B | -3.07B | 283.00M | 4.51B | 8.56B |
Balance Sheet | |||||
| Total Assets | 56.01B | 64.87B | 66.54B | 67.41B | 65.98B |
| Cash, Cash Equivalents and Short-Term Investments | 6.44B | 8.20B | 5.60B | 8.46B | 9.12B |
| Total Debt | 16.47B | 18.21B | 16.91B | 14.37B | 12.86B |
| Total Liabilities | 31.89B | 36.33B | 34.93B | 33.38B | 31.21B |
| Stockholders Equity | 17.98B | 20.76B | 25.06B | 27.36B | 27.82B |
Cash Flow | |||||
| Free Cash Flow | 1.73B | 2.49B | 484.00M | 3.57B | 10.99B |
| Operating Cash Flow | 5.14B | 8.10B | 6.50B | 9.77B | 16.72B |
| Investing Cash Flow | -2.28B | -5.13B | -5.56B | -5.82B | -5.56B |
| Financing Cash Flow | -4.79B | -840.00M | -3.22B | -4.37B | -9.36B |
Anglo American Technical Analysis
Anglo American Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | ÂŁ107.23B | 6.00 | 16.59% | 4.75% | -3.50% | -7.04% | |
65 Neutral | £503.28M | 11.82 | 3.23% | ― | -32.18% | -58.29% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
61 Neutral | ÂŁ313.31M | -5.93 | -4.56% | 1.69% | -63.09% | -253.25% | |
60 Neutral | ÂŁ60.83B | 176.08 | 0.96% | 1.89% | -1.06% | -285.88% | |
56 Neutral | ÂŁ30.94B | -11.13 | -20.10% | 0.80% | -27.65% | -160.77% | |
56 Neutral | ÂŁ171.38M | -1.06 | -4.54% | 7.30% | 6.65% | -159.09% |
Anglo American Corporate Events
Anglo American has disclosed a series of small share purchases by senior executives and other persons discharging managerial responsibilities under its UK-approved Share Incentive Plan. Chief executive Duncan Wanblad, chief financial officer John Heasley and several other executive leaders acquired modest numbers of partnership and matching shares in the company at £30.67 per share.
The transactions, executed on 16 March 2026 on the London Stock Exchange, reflect routine participation in an all-employee share scheme rather than a substantial change in ownership or capital structure. Nonetheless, the filings underscore continued alignment of management with shareholders’ interests through ongoing equity-based remuneration and comply with UK Market Abuse Regulation transparency requirements.
The most recent analyst rating on (GB:AAL) stock is a Hold with a £3182.00 price target. To see the full list of analyst forecasts on Anglo American stock, see the GB:AAL Stock Forecast page.
Anglo American has raised US$2.3 billion through its financing subsidiary, Anglo American Capital, by pricing three tranches of senior notes maturing in 2031, 2033 and 2036, with coupons ranging from 4.625% to 5.25%, all guaranteed by the parent company. The proceeds, earmarked for general corporate purposes, will bolster the group’s funding flexibility and liquidity, and the notes are expected to be admitted to trading on the London Stock Exchange’s International Securities Market, broadening its investor base and access to capital markets.
The most recent analyst rating on (GB:AAL) stock is a Hold with a £3182.00 price target. To see the full list of analyst forecasts on Anglo American stock, see the GB:AAL Stock Forecast page.
Anglo American has granted nil-cost awards of ordinary shares to its executive directors and senior managers under its Bonus Share Plan, using a reference price of £34.34 per share to determine allocation levels. The awards, which include 30,508 shares to chief executive Duncan Wanblad and 18,278 to chief financial officer John Heasley among others, will vest in tranches in 2028 and 2029, aligning management incentives with long-term shareholder value.
The company also reported that two senior managers have exercised options under its UK Sharesave Plan, an all-employee Save As You Earn scheme that allows staff to buy shares at a discounted price after a fixed savings period. Anglo American signalled that further long-term incentive grants are expected in May 2026, contingent on shareholder approval of its updated directors’ remuneration policy at the April annual meeting, underscoring ongoing scrutiny of executive pay structures.
The most recent analyst rating on (GB:AAL) stock is a Hold with a £3174.00 price target. To see the full list of analyst forecasts on Anglo American stock, see the GB:AAL Stock Forecast page.
Anglo American disclosed that non-executive director Anne Wade purchased 525 ordinary shares in the company at a price of £30.50 per share on 9 March 2026. The transaction, conducted on the London Stock Exchange and reported under UK Market Abuse Regulation, offers a minor but transparent signal of insider confidence and reinforces the company’s adherence to regulatory disclosure standards for director dealings.
While the share purchase is small in absolute terms, trades by board members are closely watched by investors as potential indicators of sentiment toward the company’s valuation and prospects. The disclosure may modestly influence market perception of Anglo American’s governance and alignment between directors and shareholders by highlighting personal financial exposure to the group’s share price performance.
The most recent analyst rating on (GB:AAL) stock is a Hold with a £3174.00 price target. To see the full list of analyst forecasts on Anglo American stock, see the GB:AAL Stock Forecast page.
Anglo American has disclosed the vesting of share awards for its chief executive and several senior executives under its Bonus Share Plan, Long Term Incentive Plan and Non‑Cyclical Share Awards Plan, with a portion of the awards sold at £36.384 per share to cover withholding taxes. The 2023 long‑term incentive awards vested at 21.2% of the original grant following performance assessment, with the unvested balance lapsing, and most net shares retained now subject to an additional two‑year holding period, underscoring the group’s continued emphasis on performance‑linked and deferred equity remuneration for top management.
The transactions follow adjustments to awards reflecting the 2025 demerger of the group’s platinum business and a planned shift from 2027 to a single three‑year vesting point for bonus share awards. The disclosure, made under UK market abuse rules, details sizeable net share retentions by the CEO and other executives, signalling ongoing alignment of leadership incentives with shareholder interests while reinforcing post‑vesting holding requirements that may limit immediate share disposals by key insiders.
The most recent analyst rating on (GB:AAL) stock is a Buy with a £4300.00 price target. To see the full list of analyst forecasts on Anglo American stock, see the GB:AAL Stock Forecast page.
Anglo American has confirmed that, as of 28 February 2026, its issued share capital consists of 1,178,050,272 ordinary shares with no shares held in treasury, resulting in an equivalent number of voting rights in the company. This updated share and voting rights figure provides investors and other stakeholders with the denominator needed to assess and report changes in their shareholdings under UK disclosure and transparency rules, while noting that a significant block of shares held via entities from a historic buyback programme are non-voting.
The clarification of total voting rights helps maintain transparency in Anglo American’s ownership structure and supports regulatory compliance in the UK market. By clearly distinguishing between total issued shares and those that are effectively non-voting, the company enables more accurate assessment of voting power and potential influence among its shareholders, which can affect governance considerations and investor decision-making.
The most recent analyst rating on (GB:AAL) stock is a Buy with a £4300.00 price target. To see the full list of analyst forecasts on Anglo American stock, see the GB:AAL Stock Forecast page.
Anglo American has released its Integrated Annual Report for the year ended 31 December 2025, making the full financial and regulatory information available on its website and via the U.K. National Storage Mechanism. The company has also published its 2025 Ore Reserves and Mineral Resources Report, its 2025 Tax and Economic Contribution Report and a 2026-2028 Transition Plan, providing investors and other stakeholders with detailed visibility on operational performance, resource base, fiscal footprint and strategic transition priorities ahead of its 2026 AGM on 29 April, for which the formal notice will follow later in March.
These disclosures underscore Anglo American’s ongoing emphasis on transparency around financial results, sustainability metrics and long-term planning, supporting informed decision-making by shareholders and regulators. By consolidating technical, tax and transition information alongside its annual reporting cycle, the company reinforces its positioning as a major diversified miner that is seeking to manage regulatory requirements and stakeholder expectations in an increasingly scrutiny-driven market environment.
The most recent analyst rating on (GB:AAL) stock is a Buy with a £4300.00 price target. To see the full list of analyst forecasts on Anglo American stock, see the GB:AAL Stock Forecast page.
Anglo American reported a modest rise in underlying EBITDA from continuing operations to $6.4 billion in 2025, driven by strong production, tight cost control and robust margins in copper and premium iron ore, while delivering $1.8 billion in run-rate cost savings and cutting net debt to $8.6 billion. Despite these operational gains and solid cash conversion, the group posted a $3.7 billion loss attributable to shareholders, largely due to a $2.3 billion impairment at De Beers, as it presses ahead with divesting steelmaking coal, nickel and platinum assets and advancing regulatory approvals for its transformative merger with Teck, which will significantly increase its exposure to copper and reshape its position in the global critical minerals market.
Alongside its financial results, Anglo American highlighted ongoing improvements in safety metrics, lower greenhouse gas emissions and reduced freshwater withdrawals, with most environmental and diversity targets described as on track. The board maintained its 40% payout policy with $0.2 billion in dividends despite lower per-share distributions, framing 2025 as a year of strategic delivery that simplifies the portfolio, supports deleveraging and aims to unlock greater long-term value for shareholders and host communities through a more focused, growth-oriented asset base.
The most recent analyst rating on (GB:AAL) stock is a Buy with a £4200.00 price target. To see the full list of analyst forecasts on Anglo American stock, see the GB:AAL Stock Forecast page.
Anglo American said its subsidiary Kumba Iron Ore Limited reported audited adjusted EBITDA of R31.9 billion, about $1.8 billion, for the year ended 31 December 2025, reflecting the unit’s strong profitability in the iron ore market. After adjustments for derivative remeasurement reversals, corporate cost allocations and other items, Kumba’s contribution to Anglo American’s underlying EBITDA is estimated at roughly $1.7 billion, and the group plans to report its full-year 2025 results on 20 February 2026.
The translation of Kumba’s earnings into a substantial underlying EBITDA contribution underscores the continued importance of the iron ore business to Anglo American’s overall financial performance and cash generation. These figures provide investors with an early indication of the mining group’s earnings mix ahead of its full results release, highlighting the resilience of its South African iron ore operations amid broader sector and commodity price dynamics.
The most recent analyst rating on (GB:AAL) stock is a Buy with a £4200.00 price target. To see the full list of analyst forecasts on Anglo American stock, see the GB:AAL Stock Forecast page.
Anglo American reported a solid fourth quarter for 2025, with strong operational performance in its core Copper and Premium Iron Ore divisions, even as group copper output fell 14% year-on-year to 169,500 tonnes due to lower grades at Quellaveco and Collahuasi. Premium iron ore production rose 6% to 15.1 million tonnes, manganese ore output jumped 22% as Australian operations normalised after prior weather disruptions, while rough diamond and steelmaking coal volumes declined on maintenance, market-driven production cuts and asset sales; all continuing businesses met full-year 2025 production guidance. Looking ahead, the miner has modestly upgraded 2026–2028 guidance for copper and premium iron ore, temporarily restarting a second plant at Los Bronces to offset lower output at Collahuasi and projecting its Chilean copper operations to produce over 125,000 tonnes more by 2028 than in 2025; it also expects Quellaveco to generate strong cash and reach capital payback in 2026. Strategically, Anglo American is pushing ahead with a portfolio reshaping that includes the sale of its steelmaking coal business, the separation of De Beers and regulatory work on nickel, while advancing its merger with Teck following Canadian approval and strong shareholder backing, positioning the future Anglo Teck group as a major critical minerals and premium iron ore player.
The most recent analyst rating on (GB:AAL) stock is a Hold with a £3867.00 price target. To see the full list of analyst forecasts on Anglo American stock, see the GB:AAL Stock Forecast page.
Anglo American has confirmed that, as of 31 January 2026, its issued share capital stands at 1,178,050,272 ordinary shares, with no shares held in treasury, resulting in an equivalent number of voting rights for regulatory reporting purposes under UK disclosure rules. The company noted that approximately 98.9 million of these shares are held by independent entities established in connection with a 2006 share buyback programme, which have permanently waived their voting rights; this structure effectively reduces the exercisable votes in the company and is relevant for shareholders and other stakeholders when calculating ownership thresholds and disclosure obligations.
The most recent analyst rating on (GB:AAL) stock is a Buy with a £45.00 price target. To see the full list of analyst forecasts on Anglo American stock, see the GB:AAL Stock Forecast page.
Anglo American has confirmed that, as of 31 December 2025, its issued share capital stands at 1,178,050,272 ordinary shares, with no shares held in treasury, resulting in an identical total number of voting rights. The disclosure, made under UK Financial Conduct Authority rules, provides the official denominator for investors and other obligated parties to calculate and report significant shareholdings, while clarifying that nearly 99 million shares held by independent entities from a past share buyback programme are non-voting, subtly shaping the company’s effective free-float voting base and governance profile.
The most recent analyst rating on (GB:AAL) stock is a Buy with a £33.00 price target. To see the full list of analyst forecasts on Anglo American stock, see the GB:AAL Stock Forecast page.
Anglo American has disclosed that its chair, Stuart Chambers, and non-executive directors Magali Anderson and Nonkululeko Nyembezi have acquired ordinary shares in the company on the London Stock Exchange under a ‘shares in lieu of fees’ scheme for the period from 1 October to 31 December 2025. The transactions, executed on 22 December at £28.82 per share, convert after-tax board fees into equity, modestly increasing directors’ holdings and signalling continued alignment of the board’s interests with those of shareholders, in line with UK market abuse regulation disclosure requirements.
The most recent analyst rating on (GB:AAL) stock is a Buy with a £33.00 price target. To see the full list of analyst forecasts on Anglo American stock, see the GB:AAL Stock Forecast page.