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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 | ÂŁ121.35B | 6.00 | 18.43% | 4.75% | -3.50% | -7.04% | |
65 Neutral | £568.62M | 11.82 | 3.23% | ― | -32.18% | -58.29% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
61 Neutral | ÂŁ344.25M | -5.93 | -6.87% | 1.69% | -63.09% | -253.25% | |
60 Neutral | ÂŁ61.56B | 176.08 | -5.26% | 1.89% | -1.06% | -285.88% | |
56 Neutral | ÂŁ37.25B | -11.13 | -9.21% | 0.80% | -27.65% | -160.77% | |
56 Neutral | ÂŁ239.65M | -1.06 | -4.64% | 7.30% | 6.65% | -159.09% |
Anglo American Corporate Events
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.
Anglo American has published provisional timetables for its 2026 final and interim dividends, setting out key dates for announcement, ex-dividend trading, record dates and payment across its London, Johannesburg and Botswana listings. The schedules, which remain subject to confirmation in the group’s 2026 interim and full-year results and, for the final dividend, approval at the April 2026 AGM, also detail how shareholders can elect payment currencies (US dollars, pounds sterling, euros, South African rand and Botswana pula) and participate in the Dividend Reinvestment Plan. The notice clarifies blackout periods for transferring shares between the principal and branch registers, outlines South African dividend tax treatment and confirms the mechanism for FX conversion via forward contracts, signalling continued adherence to a predictable, internationally coordinated dividend distribution framework for investors.
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 provided a formal update under the UK Takeover Code on the portfolio reshaping it first outlined in May 2024, detailing significant progress on disposals and separations across its non-core commodities. The group has agreed the sale of its nickel business to MMG for up to US$500 million, pending final EU regulatory approval, and has fully exited its former Anglo American Platinum stake, realising about US$2.5 billion from the sale of its remaining 19.9% holding after a prior majority demerger. In steelmaking coal, the company has completed the A$1.6 billion sale of its 33.3% Jellinbah Group interest but is re-running a formal sale process for its remaining steelmaking coal assets after Peabody Energy moved to terminate a planned US$3.775 billion acquisition. Anglo American also reports that a dual‑track separation and structured sale of its De Beers diamond business is progressing, while development of the Woodsmith crop nutrients project has been deliberately slowed to focus on critical technical work and validation of capital and schedule assumptions, keeping 2025 capex around US$0.3 billion as it works toward meeting key conditions for full project sanction. Collectively, these actions underscore Anglo American’s drive to simplify its portfolio and concentrate capital on copper, premium iron ore and crop nutrients, reshaping its commodity mix and risk profile in a way that is likely to be closely watched by shareholders, customers and host countries.
The most recent analyst rating on (GB:AAL) stock is a Buy with a £3400.00 price target. To see the full list of analyst forecasts on Anglo American stock, see the GB:AAL Stock Forecast page.
Anglo American plc has disclosed share transactions involving its leadership team under its HMRC-approved Share Incentive Plan, which allows employees to acquire company shares through salary deductions alongside matching shares provided by the company. The notification signifies a reinforcement of leadership commitment to the company’s goals, aligning executive interests with shareholder value and showcasing adherence to transparent governance practices.
The most recent analyst rating on (GB:AAL) stock is a Buy with a £3400.00 price target. To see the full list of analyst forecasts on Anglo American stock, see the GB:AAL Stock Forecast page.
Anglo American and Teck Resources have received Canadian government approval for their merger, forming Anglo Teck, a global critical minerals leader headquartered in Canada. This merger promises significant investment in Canada, with commitments to spend at least C$4.5 billion in the next five years and a total of C$10 billion over 15 years, enhancing mining projects and supporting local communities and Indigenous peoples.
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 and Teck Resources Limited have received shareholder approval for a merger to form Anglo Teck, a new entity that will be a global leader in critical minerals and a top five global copper producer. This merger is expected to deliver significant value to shareholders through synergies and growth opportunities, with over 70% exposure to copper. The completion of the merger is subject to regulatory approvals across various jurisdictions.
The most recent analyst rating on (GB:AAL) stock is a Hold with a £3218.00 price target. To see the full list of analyst forecasts on Anglo American stock, see the GB:AAL Stock Forecast page.
Anglo American has announced that its shareholders have approved a merger with Teck Resources Limited to form the Anglo Teck group. This merger aims to create a global leader in critical minerals, with a strong focus on copper, and is expected to enhance the company’s growth potential and market positioning. The merger is still subject to approval by Teck’s shareholders and various regulatory bodies, but it represents a significant strategic move for Anglo American, aligning with its goals of operational excellence, portfolio simplification, and growth.
The most recent analyst rating on (GB:AAL) stock is a Hold with a £3218.00 price target. To see the full list of analyst forecasts on Anglo American stock, see the GB:AAL Stock Forecast page.
Anglo American has decided to withdraw Resolution 2 from its upcoming General Meeting agenda, which proposed amendments to the Long-Term Incentive Plan Awards for executive directors. This decision follows shareholder consultations that, despite support for the resolution’s objectives, raised concerns about broader remuneration principles. The withdrawal does not impact the merger with Teck Resources, which hinges on the approval of Resolution 1. The company remains committed to engaging with shareholders to refine its remuneration policy for future meetings.
The most recent analyst rating on (GB:AAL) stock is a Hold with a £3218.00 price target. To see the full list of analyst forecasts on Anglo American stock, see the GB:AAL Stock Forecast page.
Anglo American plc announced that as of November 30, 2025, its issued share capital consists of 1,178,050,272 ordinary shares, with no shares held in Treasury. This update is crucial for shareholders and stakeholders to determine their notification obligations under the FCA’s Disclosure Guidance and Transparency Rules. Notably, a significant portion of these shares is held by independent companies that have waived their voting rights, impacting the overall voting dynamics within the company.
The most recent analyst rating on (GB:AAL) stock is a Hold with a £30.00 price target. To see the full list of analyst forecasts on Anglo American stock, see the GB:AAL Stock Forecast page.