Update shared on20 Sep 2025
Fair value Increased 1.53%Analysts have modestly raised Antofagasta’s price target to £20.57, citing stronger copper price forecasts, resilient operational performance, and easing input cost pressures, though some caution remains following recent share price gains.
Analyst Commentary
- Bullish analysts are responding to stronger copper price forecasts and anticipated demand growth driven by ongoing electrification and green energy trends.
- Upward target revisions reflect improving operational performance, with Antofagasta delivering stable production despite challenging cost environments.
- Increased price targets also factor in expectations of easing input cost pressures and positive commodity price momentum.
- Some neutral sentiment persists, with hold and equal weight ratings reflecting caution around valuation after recent share price appreciation.
- Bearish analysts previously cited concerns over potential downside risks to production guidance and cost inflation, resulting in minor downward price target revisions.
What's in the News
- Interim dividend increased to 16.6 cents per ordinary share for H1 2025, up from 7.9 cents in the prior year.
- Guidance for full-year copper production reaffirmed at 660,000-700,000 tonnes.
- Q2 2025 copper production reported at 160.1 kt; year-to-date copper production at 314.9 kt.
Valuation Changes
Summary of Valuation Changes for Antofagasta
- The Consensus Analyst Price Target remained effectively unchanged, moving only marginally from £20.26 to £20.57.
- The Future P/E for Antofagasta has significantly fallen from 27.40x to 20.56x.
- The Consensus Revenue Growth forecasts for Antofagasta remained effectively unchanged, moving only marginally from 7.9% per annum to 8.1% per annum.
Disclaimer
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