Antofagasta plc

DB:FG1 Stock Report

Market Cap: €40.5b

Antofagasta Valuation

Is FG1 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

1/6

Valuation Score 1/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Future Cash Flow Value

What is the Fair Price of FG1 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Ultimate guide to DCF valuation for stock investing

Learn how to determine fair value like the best investors in the world.

Below Fair Value: FG1 (€42.38) is trading above our estimate of fair value (€26.55)

Significantly Below Fair Value: FG1 is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for FG1?

Key metric: As FG1 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for FG1. This is calculated by dividing FG1's market cap by their current earnings.
What is FG1's PE Ratio?
PE Ratio43x
EarningsUS$1.09b
Market CapUS$46.96b

Price to Earnings Ratio vs Peers

How does FG1's PE Ratio compare to its peers?

The above table shows the PE ratio for FG1 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average43.8x
NDA Aurubis
11.9x-5.65%€6.4b
HEI Heidelberg Materials
22.1x10.66%€41.1b
BAS BASF
127.5x23.33%€39.5b
TKA thyssenkrupp
13.8x20.62%€6.5b
FG1 Antofagasta
43x14.57%€35.1b

Price-To-Earnings vs Peers: FG1 is good value based on its Price-To-Earnings Ratio (43x) compared to the peer average (43.8x).

Historical Price to Earnings Ratio

Historical Price to Earnings Ratio compares a stock's price to its earnings over time. Higher ratios indicate that investors are willing to pay more for the stock.

Fetching historical data

Price to Earnings Ratio vs Industry

How does FG1's PE Ratio compare vs other companies in the European Metals and Mining Industry?

18 CompaniesPrice / EarningsEstimated GrowthMarket Cap
FG1 43.0xIndustry Avg. 17.9xNo. of Companies18PE01020304050+
18 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: FG1 is expensive based on its Price-To-Earnings Ratio (43x) compared to the European Metals and Mining industry average (18.2x).

Price to Earnings Ratio vs Fair Ratio

What is FG1's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

FG1 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio43x
Fair PE Ratio26.1x

Price-To-Earnings vs Fair Ratio: FG1 is expensive based on its Price-To-Earnings Ratio (43x) compared to the estimated Fair Price-To-Earnings Ratio (26.1x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst FG1 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€42.38
€36.34
-14.26%
18.67%€46.27€21.78n/a20
Jan ’27€37.06
€31.50
-15.00%
18.98%€39.92€21.61n/a20
Dec ’26€31.19
€30.01
-3.78%
18.67%€38.66€21.59n/a20
Nov ’26€32.12
€28.25
-12.05%
20.61%€39.24€15.12n/a20
Oct ’26€31.56
€24.75
-21.57%
18.88%€34.28€14.85n/a20
Sep ’26€25.06
€23.40
-6.62%
16.13%€29.00€14.90n/a20
Aug ’26€21.71
€22.86
+5.28%
15.64%€28.96€14.71n/a20
Jul ’26€21.30
€22.04
+3.46%
15.23%€27.64€13.87n/a20
Jun ’26€21.16
€22.30
+5.41%
15.67%€28.88€14.24n/a20
May ’26€19.97
€21.82
+9.26%
15.74%€28.43€14.06n/a20
Apr ’26€20.68
€22.96
+11.05%
16.14%€29.25€14.99n/a19
Mar ’26€21.34
€23.48
+10.01%
16.75%€29.80€15.64n/a19
Feb ’26€21.10
€22.02
+4.38%
16.62%€29.05€15.25n/a19
Jan ’26€19.63
€23.01
+17.21%
15.83%€29.59€16.19€37.0619
Dec ’25€20.20
€23.49
+16.29%
16.37%€30.17€16.08€31.1919
Nov ’25€21.14
€22.75
+7.61%
17.24%€29.45€15.61€32.1219
Oct ’25€24.36
€22.52
-7.57%
16.17%€29.43€16.33€31.5618
Sep ’25€21.61
€22.72
+5.14%
15.36%€29.42€16.32€25.0617
Aug ’25€22.68
€23.67
+4.38%
17.58%€30.82€16.72€21.7117
Jul ’25€24.76
€23.19
-6.34%
20.15%€31.05€13.09€21.3017
Jun ’25€26.41
€21.84
-17.30%
23.99%€30.57€12.88€21.1617
May ’25€26.54
€21.51
-18.94%
23.97%€30.29€11.84€19.9717
Apr ’25€24.22
€19.23
-20.61%
23.36%€26.19€11.68€20.6817
Mar ’25€21.50
€17.93
-16.59%
19.67%€24.64€11.74€21.3417
Feb ’25€20.29
€18.00
-11.30%
20.42%€24.71€11.77€21.1017
Jan ’25€19.58
€16.46
-15.92%
17.99%€21.91€11.13€19.6317
€37.51
Fair Value
13.0% overvalued intrinsic discount
20
Number of Analysts

Analyst Forecast: Target price is lower than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/01/16 18:44
End of Day Share Price 2026/01/16 00:00
Earnings2025/06/30
Annual Earnings2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Antofagasta plc is covered by 38 analysts. 16 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Izak RossouwBarclays
Izak RossouwBarclays
Peter WardBarclays