Antofagasta (ANTO) AI Stock Analysis

• Market Cap: £20.08B
• Dividend Yield: 1.14%
• Average Volume (3M): 932.82K
• Price to Earnings (P/E): 30.9
• Beta (1Y): 1.94
• Revenue Growth: 1.69%
• EPS Growth: -3.57%
• Country: UK
• Employees: 8,095
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Copper
• EPS (TTM): 0.42
• Shares Outstanding: 985,856,700
• 10 Day Avg. Volume: 818,181
• 30 Day Avg. Volume: 932,824
• PEG Ratio: N/A
• Price to Book (P/B): 0.00
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 0.00
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: £2,054.80
• Price Target Upside: 0.87% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 15

• Rating: 70 Neutral
• Price Target: 2,022.00p ▼(-0.74% Downside)

Antofagasta's overall score reflects strong corporate events and a positive earnings call, indicating robust operational and strategic positioning. However, financial performance and valuation concerns slightly temper the outlook.

Positive Factors

Cost Guidance

Cost guidance a positive surprise.

Negative Factors

Permit Risks

There are still some residual production risks as the Zaldivar mining permit is due to expire, and a lengthy review process could conceivably lead to a mining suspension if the permit is not granted on time.

Volume Outlook

The weaker 2025 volume outlook is mainly driven by a more flattish development at Los Pelambres on lower grades.

Antofagasta Business Overview & Revenue Model

Company Description

Antofagasta plc is a Chilean-based mining company primarily engaged in the production of copper, gold, and molybdenum. The company operates several mines in the Antofagasta Region of northern Chile, with its core operations including the Los Pelambres, Centinela, and Antucoya mines. Antofagasta is also involved in the transportation of minerals through its rail and port operations, providing a complete value chain from extraction to shipment.

How the Company Makes Money

Antofagasta generates revenue primarily through the sale of copper, which constitutes the majority of its earnings. The company benefits from global demand for copper driven by industrial use, construction, and the growing renewable energy sector. Additional revenue streams include the sale of by-products such as gold and molybdenum. Antofagasta's revenue is influenced by commodity prices, and it has established contracts and partnerships with various industrial clients and trading companies to secure sales. The company's operational efficiency and cost management further enhance profitability, while its investments in projects and infrastructure contribute to long-term growth.

Antofagasta Financial Statement Overview

Summary

Antofagasta demonstrates solid operational efficiency with strong margins and a balanced capital structure. However, the company faces challenges in cash flow management and modest revenue growth.

Income Statement

Antofagasta's income statement shows stable profitability despite fluctuating revenues. The gross profit margin for 2024 was solid at 37.88%, and the net profit margin was 12.55%, indicating efficient cost management. However, revenue growth from 2023 to 2024 was modest at 4.57%, reflecting industry challenges. The EBIT and EBITDA margins remained strong at 30.37% and 60.03% respectively, underlining operational efficiency.

Balance Sheet

The balance sheet reflects a robust financial position with a debt-to-equity ratio of 0.57, suggesting manageable leverage. The return on equity (ROE) was 8.77%, which is stable but indicates room for improvement in generating higher returns for shareholders. The equity ratio stood at 41.80%, showing a balanced capital structure with a healthy proportion of equity financing.

Cash Flow

Cash flow analysis reveals challenges, with free cash flow deteriorating from a positive in 2023 to negative in 2024, indicating increased capital expenditures. The operating cash flow to net income ratio was 2.75, suggesting strong cash generation relative to net earnings. However, the free cash flow to net income ratio was negative, highlighting concerns over cash availability for reinvestment and dividends.

Breakdown	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	6.61B	6.32B	5.86B	7.47B	5.13B
Gross Profit	2.50B	2.66B	2.43B	4.35B	2.27B
EBITDA	3.02B	3.30B	2.76B	4.50B	2.54B
Net Income	829.40M	835.10M	1.53B	1.29B	506.40M
Balance Sheet
Total Assets	22.63B	19.65B	18.24B	17.28B	16.60B
Cash, Cash Equivalents and Short-Term Investments	4.32B	3.38B	2.39B	3.71B	3.67B
Total Debt	5.35B	4.08B	3.27B	3.17B	3.75B
Total Liabilities	9.68B	7.60B	6.59B	6.25B	6.52B
Stockholders Equity	9.46B	8.95B	8.63B	8.35B	7.75B
Cash Flow
Free Cash Flow	-129.30M	203.80M	-2.30M	1.89B	751.30M
Operating Cash Flow	2.29B	2.33B	1.88B	3.67B	2.06B
Investing Cash Flow	-2.08B	-2.09B	-477.50M	-2.20B	-2.19B
Financing Cash Flow	1.35B	-402.00M	-1.33B	-1.95B	717.10M

Antofagasta Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 2037.00
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:ANTO, the sentiment is Positive. The current price of 2037 is above the 20-day moving average (MA) of 1959.90, above the 50-day MA of 1884.20, and above the 200-day MA of 1749.71, indicating a bullish trend. The MACD of 40.52 indicates Negative momentum. The RSI at 68.21 is Neutral, neither overbought nor oversold. The STOCH value of 98.22 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GB:ANTO.

Antofagasta Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
FRES	74 Outperform	$12.84B	36.49	11.97%	1.42%	34.84%	78.48%
HOC	73 Outperform	£1.55B	20.37	15.70%	0.27%	31.84%	―
ATYM	71 Outperform	£672.83M	13.30	11.38%	1.18%	17.22%	97.69%
ANTO	70 Neutral	£20.08B	30.94	8.87%	1.14%	1.69%	-3.57%
GLEN	62 Neutral	£34.77B	―	-5.26%	2.95%	-1.06%	-285.88%
AAL	54 Neutral	£23.30B	―	-9.21%	2.49%	-27.65%	-160.77%
Sector *	44 Neutral	AU$1.54B	-7.19	-27.94%	4.41%	-2.95%	-36.41%

Antofagasta Corporate Events

Antofagasta to Announce 2025 Half-Year Results with Investor Q&A

Antofagasta PLC is set to release its half-year results for 2025 on 14 August, which will be accompanied by a presentation video, slides, and a transcript available on their website. The company will also host a Q&A video conference on the same day, led by key executives, to discuss the results with investors, highlighting its transparency and engagement with stakeholders.

The most recent analyst rating on (GB:ANTO) stock is a Buy with a £1950.00 price target. To see the full list of analyst forecasts on Antofagasta stock, see the GB:ANTO Stock Forecast page.

Antofagasta Reports Strong Q2 2025 Copper Production and Cost Reduction

Antofagasta PLC reported a robust increase in copper production and a significant reduction in net cash costs for Q2 2025, driven by enhanced outputs from its Los Pelambres and Centinela districts. The company maintains its annual guidance for copper production and costs, while advancing key development projects on schedule and securing an environmental approval to extend the Zaldívar mine’s life to 2051. The positive outlook for copper demand, supported by strategic sectors and constrained supply, underpins Antofagasta’s confidence in its future operations.

The most recent analyst rating on (GB:ANTO) stock is a Buy with a £1950.00 price target. To see the full list of analyst forecasts on Antofagasta stock, see the GB:ANTO Stock Forecast page.

Antofagasta Releases 2024 Payments to Governments Report Highlighting New Royalty Regime

Antofagasta plc has released its 2024 Report on Payments to Governments, detailing taxes and payments related to its mining activities, primarily in Chile. The report highlights the implementation of a new mining royalty regime in Chile, which includes a royalty ranging from 8% to 26% based on profitability and a 1% ad valorem royalty on copper sales. This change impacts the company’s financial obligations and reflects its commitment to transparency in financial reporting.

The most recent analyst rating on (GB:ANTO) stock is a Buy with a £1950.00 price target. To see the full list of analyst forecasts on Antofagasta stock, see the GB:ANTO Stock Forecast page.

Antofagasta Releases 2024 Government Payments Report

Antofagasta plc released its 2024 Report on Payments to Governments, detailing taxes and payments related to its mining activities, primarily in Chile. The report highlights the implementation of a new mining royalty regime in Chile from January 2024, affecting the Los Pelambres mine, while Centinela and Antucoya mines continue under previous tax stability agreements. These changes reflect the company’s compliance with regulatory requirements and its financial contributions to the Chilean government, impacting its operations and stakeholder relations.

The most recent analyst rating on (GB:ANTO) stock is a Buy with a £1950.00 price target. To see the full list of analyst forecasts on Antofagasta stock, see the GB:ANTO Stock Forecast page.

Antofagasta Appoints Ignacio Bustamante as Independent Non-Executive Director

Antofagasta plc has appointed Ignacio Bustamante as an Independent Non-Executive Director, effective 1 July 2025. With over 30 years of senior leadership experience in mining across the Americas, Bustamante’s expertise in corporate strategy and sustainability is expected to significantly benefit the company. His previous roles include CEO of Hochschild Mining plc and various executive positions in operations, finance, and business development. This strategic appointment aims to enhance Antofagasta’s operational and strategic capabilities, potentially strengthening its position in the mining sector.

The most recent analyst rating on (GB:ANTO) stock is a Buy with a £1950.00 price target. To see the full list of analyst forecasts on Antofagasta stock, see the GB:ANTO Stock Forecast page.

Antofagasta Secures EIA Approval for Zaldívar Mine Extension

Antofagasta plc has received approval from the Chilean Environmental Authority for the Environmental Impact Assessment (EIA) related to the Zaldívar mine’s life extension and water transition. This approval allows the mine to operate until 2051 and ensures a sustainable water supply plan, which is crucial for the mine’s long-term viability. The decision supports operational continuity, secures employment, and benefits local businesses involved with the mine, enhancing Antofagasta’s industry positioning and reducing business risks.

The most recent analyst rating on (GB:ANTO) stock is a Buy with a £1950.00 price target. To see the full list of analyst forecasts on Antofagasta stock, see the GB:ANTO Stock Forecast page.