Anglo American (NGLOY)
OTHER OTC:NGLOY
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Anglo American
(OTC:NGLOY)
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Rating:65Neutral
Price Target:
$23.50
▲(0.56% Upside)
Action:ReiteratedDate:02/23/26
The score is held back mainly by pressured financial performance (revenue declines and recent net losses), partly cushioned by resilient operating cash flow. Technicals are supportive with a clear uptrend, and the earnings call was broadly constructive on cost-out, deleveraging, and merger progress, though De Beers and execution/regulatory risks remain. Valuation is helped by an unusually high dividend yield despite loss-driven negative P/E.
Positive Factors
Cash generation & free cash flow
Consistent positive operating cash flow and FCF provide durable financial flexibility to fund sustaining/growth CapEx, support deleveraging and absorb cyclical price weakness. Over 2–6 months this underpins liquidity and ability to execute restructuring and portfolio sales.
Negative Factors
Multi-year revenue decline & net losses
Sustained revenue erosion and recent net losses signal structural earnings pressure beyond cyclical dips. Material non-operating charges and impairments have driven negative margins, weakening retained earnings and limiting capacity to rebuild equity without continued strong cash generation or asset sales.
Read all positive and negative factors
Positive Factors
Negative Factors
Cash generation & free cash flow
Consistent positive operating cash flow and FCF provide durable financial flexibility to fund sustaining/growth CapEx, support deleveraging and absorb cyclical price weakness. Over 2–6 months this underpins liquidity and ability to execute restructuring and portfolio sales.
Read all positive factors
Anglo American (NGLOY) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$50.25B
Dividend Yield0.64%
Average Volume (3M)10.63K
Price to Earnings (P/E)―
Beta (1Y)1.31
Revenue Growth-25.45%
EPS Growth-169.04%
CountryUS
Employees55,542
SectorBasic Materials
Sector Strength58
IndustryIndustrial Materials
Share Statistics
EPS (TTM)0.18
Shares Outstanding2,356,100,600
10 Day Avg. Volume0
30 Day Avg. Volume10,634
Financial Highlights & Ratios
PEG Ratio-0.25
Price to Book (P/B)2.60
Price to Sales (P/S)2.52
P/FCF Ratio27.50
Enterprise Value/Market Cap1.19
Enterprise Value/Revenue3.24
Enterprise Value/Gross Profit6.40
Enterprise Value/Ebitda9.82
Forecast
1Y Price Target
$24.00Price Target Upside2.70% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)0.77
Revenue Forecast (FY)$20.31B
Anglo American Business Overview & Revenue Model
Company Description
Anglo American plc operates as a mining company worldwide. The company explores for rough and polished diamonds, copper, platinum group metals, metallurgical and thermal coal, and iron ore; and nickel, polyhalite, and manganese ores, as well as al...
How the Company Makes Money
Anglo American primarily makes money by producing and selling mined commodities to industrial customers and commodity traders under a mix of longer-term offtake arrangements and spot/market-linked sales, with realized revenue driven by shipped vol...
Anglo American Earnings Call Summary
Earnings Call Date:Feb 19, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Jul 23, 2026
Earnings Call Sentiment Positive
The call conveyed a broadly positive strategic and operational picture: management delivered on production guidance, realized substantial cost savings and demonstrable deleveraging, and advanced a transformational merger with Teck that could create a major copper‑focused champion. Material negatives include two workplace fatalities, a significant impairment and ongoing market weakness at De Beers, operational incidents affecting steelmaking coal, and near‑term cost and grade headwinds at Collahuasi that lift 2026 unit costs. On balance, the positives—strong simplified portfolio performance, cash generation, portfolio monetizations (~$2.5bn realized) and merger progress—outweigh the negatives, though material execution and market risks remain (notably De Beers exit and remaining regulatory approvals).Positive Updates
Strategic Transformation and Merger Progress
Announced merger with Teck to form 'Anglo Teck' with major regulatory approvals secured (including Investment Canada Act) and completion targeted in ~12-18 months; $4.5 billion special dividend expected to be payable around completion.
Negative Updates
Workplace Fatalities
Despite improved injury frequency, the company reported two separate workplace fatalities in the first half (projects contractor fall in Minas‑Rio and an LHD accident in Unki), described as tragic and unacceptable.
Read all updates
Q4-2025 Updates
Positive
Negative
Strategic Transformation and Merger Progress
Announced merger with Teck to form 'Anglo Teck' with major regulatory approvals secured (including Investment Canada Act) and completion targeted in ~12-18 months; $4.5 billion special dividend expected to be payable around completion.
Read all positive updates
Company Guidance
Guidance highlights include 2026 copper unit costs of ~ $1.72/lb (up from $1.50/lb) assuming CLP 860 and PEN 3.2, premium iron ore unit costs of ~ $41/t (ZAR16, BRL5.3), a continuing-operations underlying tax rate of 44–48% (long‑term simplified portfolio 38–42%; 2025 outcome ~39%), continuing depreciation $2.4–2.6bn, ~ $0.2bn of restructuring/merger costs, a one‑off non‑cash $0.5bn lease liability recognition related to Los Bronces water, and simplified‑portfolio CapEx of $2.6–3.1bn p.a. over the next 3 years (De Beers CapEx ~$0.5bn; Woodsmith ~$250m in 2026 and 2027 plus $50m OpEx), with sustaining CapEx ~ $2bn p.a.; operational and cost targets include $0.6bn incremental cost savings in 2025 (total realized $1.6bn of a $1.8bn target, with ~ $0.2bn to be realized in 2026), sustaining attributable free cash flow of $1.4bn in 2025, net debt reduced by $2.0bn to $8.6bn (net debt/EBITDA 1.3x; excl. shareholder loans $6.8bn), continuing‑operations EBITDA $6.4bn (simplified portfolio EBITDA $6.9bn, 44% margin; copper $4.0bn; premium iron ore $2.9bn), Quellaveco expected to produce ~300,000 tpa copper, ~125,000 t of lower‑risk near‑term copper growth from Collahuasi/Donoso 2 stripping, and the Anglo‑Teck transaction still targeted to complete in ~12–18 months (roughly Sept–Mar) with a $4.5bn special dividend payable on or around completion; 2025 underlying EPS was $0.54 and full‑year dividends were $0.23/share (final $0.16).Anglo American Financial Statement Overview
Summary
Income Statement
38
Negative
Balance Sheet
58
Neutral
Cash Flow
62
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 18.58B | 27.29B | 30.65B | 35.12B | 41.55B |
| Gross Profit | 7.27B | 16.13B | 15.04B | 21.82B | 28.30B |
| EBITDA | 6.04B | 3.32B | 7.27B | 12.44B | 19.73B |
| Net Income | -4.14B | -3.07B | 283.00M | 4.51B | 8.56B |
Balance Sheet | |||||
| Total Assets | 55.99B | 64.87B | 66.54B | 67.41B | 65.98B |
| Cash, Cash Equivalents and Short-Term Investments | 6.44B | 8.20B | 6.14B | 8.46B | 9.12B |
| Total Debt | 16.46B | 18.21B | 16.91B | 14.37B | 12.86B |
| Total Liabilities | 31.88B | 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 | 1.70B | 2.49B | 484.00M | 3.57B | 10.99B |
| Operating Cash Flow | 5.05B | 8.10B | 6.50B | 9.77B | 16.72B |
| Investing Cash Flow | -2.24B | -5.13B | -5.56B | -5.82B | -5.56B |
| Financing Cash Flow | -4.70B | -840.00M | -3.22B | -4.37B | -9.36B |
Anglo American Technical Analysis
Positive
23.37
Price Trends
22.72
Positive
21.36
Positive
18.90
Positive
Market Momentum
-0.06
Negative
60.34
Neutral
82.23
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NGLOY, the sentiment is Positive. The current price of 23.37 is above the 20-day moving average (MA) of 21.02, above the 50-day MA of 22.72, and above the 200-day MA of 18.90, indicating a bullish trend. The MACD of -0.06 indicates Negative momentum. The RSI at 60.34 is Neutral, neither overbought nor oversold. The STOCH value of 82.23 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for NGLOY.
Anglo American Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | $194.94B | 6.78 | 21.41% | 3.55% | -7.86% | 14.17% | |
69 Neutral | $168.59B | 13.01 | 16.59% | 4.60% | -0.44% | -4.20% | |
68 Neutral | $71.64B | 22.50 | 6.34% | 10.04% | -8.49% | -41.69% | |
65 Neutral | $50.25B | -11.30 | -20.10% | 0.64% | -25.45% | -169.04% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
61 Neutral | $1.05B | 11.11 | -15.33% | ― | 11.32% | 61.60% | |
58 Neutral | $1.49B | 8.84 | 14.19% | 1.14% | 7.92% | 91.83% |
* Basic Materials Sector Average
NGLOY
Anglo American
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113.49%
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Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.