Anglo American plc

LSE:AAL Stock Report

Market Cap: UK£37.7b

Anglo American Future Growth

Future criteria checks 3/6

Anglo American is forecast to grow earnings and revenue by 45.6% and 2.7% per annum respectively. EPS is expected to grow by 46.4% per annum. Return on equity is forecast to be 12.2% in 3 years.

Key information

45.6%

Earnings growth rate

46.45%

EPS growth rate

Metals and Mining earnings growth17.6%
Revenue growth rate2.7%
Future return on equity12.19%
Analyst coverage

Good

Last updated30 Apr 2026

Recent future growth updates

Recent updates

AAL: Teck Merger And Commodity Risks Will Shape Balanced Future Profile

The analyst fair value estimate for Anglo American edges up to £35.09 from £35.05 as analysts weigh slightly higher assumed revenue growth and a modestly higher discount rate against a small trim to projected profit margins and future P/E, informed by a mix of recent target cuts and upgrades following the Teck merger progress and shifting sector risk views. Analyst Commentary Recent Street research around Anglo American is mixed, with several price target changes, rating shifts and comments on the proposed Teck merger feeding into the updated fair value estimate.

AAL: Teck Merger And Revised Production Guidance Will Support Future Rerating

The updated analyst work on Anglo American nudges the fair value estimate up by about £0.33 per share to £46.07, as analysts factor in higher projected revenue growth, a slightly lower profit margin, a modestly lower future P/E and a higher discount rate, set against a mixed series of recent price target changes across the Street. Analyst Commentary Recent Street research around Anglo American presents a mixed picture, with some caution from large global banks sitting alongside more optimistic views from bullish analysts who see value support and potential upside tied to execution and corporate actions.

AAL: Teck Merger Outcome Will Shape Future Risk Reward Profile

Anglo American's updated fair value estimate has increased from £33.82 to £35.05 per share as analysts adjust price targets in light of mixed rating changes, revised commodity scenarios, and the anticipated impact of the Teck merger. Analyst Commentary Recent Street research on Anglo American points to a split view, with some analysts leaning into the potential of the Teck merger and others focusing on macro risks and more conservative commodity assumptions.

AAL: Teck Merger And Production Guidance Will Drive Future Rerating

The analyst fair value estimate for Anglo American has inched up to £45.74 from £45.56, as analysts balance recent target moves between about £36.00 and £43.00 with updated views on revenue growth, profit margin prospects, and a lower future P/E assumption. Analyst Commentary Bullish analysts have been revisiting their views on Anglo American, with several recent price target moves and upgrades pointing to a more constructive stance on the shares.

AAL: Teck Merger And Upgraded Outlook Will Drive Future Rerating

Anglo American’s updated analyst price target has risen to about £46 per share from roughly £37, as analysts point to revised fair value estimates, higher projected profit margins and recent target upgrades from several banks. Analyst Commentary Recent research has tilted more positive on Anglo American, with several bullish analysts revisiting their models and outcome ranges.

AAL: Deal Outcomes And Margin Assumptions Will Shape Future Risk Reward Balance

Narrative Update The analyst price target for Anglo American has increased to £33.82 from £29.54. Analysts attribute this to updated assumptions around profit margins, a lower future P/E multiple, and recent Street research highlighting a £3,000 GBp target and an upgraded stance on the stock.

AAL: Iron Ore Outlook And Teck Merger Path Will Shape Rerating Prospects

Anglo American's analyst fair value estimate has increased from £35.01 to £36.92, as analysts factor in updated assumptions on growth, margins and a higher implied future P/E multiple, alongside recent Street price target increases to £30.00 and £31.00. Analyst Commentary Recent Street commentary has tilted more optimistic on Anglo American, with bullish analysts lifting price targets into the £30.00 range.

AAL: Rejected Bid And Teck Merger Plans Will Constrain Upside Potential

Analysts have lifted their fair value estimate for Anglo American from £18.70 to about £21.07 per share. They point to updated price targets in the £30.00 to £31.00 range and a reassessment of discount rates, revenue expectations, profit margins and future P/E assumptions to support the change.

AAL: Iron Ore Upside And Merger Progress Will Drive Bullish Rerating

Analysts have lifted their price target on Anglo American to about $35 from roughly $28, reflecting improved expectations for revenue growth, higher margins, and a more favorable long term iron ore and valuation outlook following a series of recent target increases from major brokerages. Analyst Commentary Recent research updates highlight a clear shift toward a more constructive stance on Anglo American, with a series of price target increases signaling rising confidence in the company’s earnings trajectory and asset quality.

AAL: Iron Ore Outlook And Merger Decisions Will Shape Future Risk Reward Balance

The analyst price target for Anglo American has been raised to approximately $29.54 from about $29.18. This reflects analysts' more constructive view on long term iron ore demand and supply dynamics, despite slightly higher discount rates and some pressure on forecast margins.

AAL: Sector Consolidation And Potential Supply Constraints Will Shape Merger Outlook

Anglo American's analyst price target has been raised from approximately $29.48 to $29.18, reflecting a modest increase that analysts attribute to improved forecast profit margins as well as ongoing optimism around iron ore demand and potential supply constraints. Analyst Commentary Recent Street research has showcased evolving sentiment around Anglo American, as analysts adjust their views and price targets in light of sector developments and company actions.

AAL: Sector Consolidation And Resource Demand Will Shape Outlook Following Major Merger

Analysts have raised their price target for Anglo American from approximately $28.36 to $29.48. They cite improved sentiment on future iron ore demand and ongoing sector consolidation as key drivers for the upward revision.

Copper Demand And New Merger Will Drive Mining Sector Momentum Forward

Analysts have raised their price target for Anglo American, increasing the fair value estimate from approximately $27.00 to $28.36. This adjustment reflects improved profit margin expectations and a slightly more optimistic outlook on iron ore demand.

Electrification And Decarbonization Will Boost Copper And Iron Ore Demand

The analyst price target for Anglo American has been raised significantly from approximately $24.69 to $27.00, as analysts grow more optimistic on improving iron ore demand and favorable supply dynamics. Analyst Commentary Recent analyst activity surrounding Anglo American reveals both optimism about the company's prospects and cautions about the evolving sector landscape.

Electrification And Decarbonization Will Boost Copper And Iron Ore Demand

Analysts have raised Anglo American’s price target from £23.13 to £24.69, citing the transformative merger with Teck Resources, enhanced copper exposure, and anticipated sector consolidation as key drivers of increased confidence and long-term growth prospects. Analyst Commentary The merger of equals between Anglo American and Teck Resources is viewed as transformative, creating the world's fifth-largest copper producer and altering the group's strategic profile.

Electrification And Decarbonization Will Boost Copper And Iron Ore Demand

The consensus price target for Anglo American has been raised to £23.13 as analysts cite the transformative merger with Teck Resources—making it a top-five global copper producer—as a catalyst for improved scale, growth prospects, and earnings outlook. Analyst Commentary The merger of equals between Anglo American and Teck Resources transforms the company into the world’s fifth-largest copper producer, significantly improving scale and growth prospects.
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Portfolio Simplification And Copper Expansion Will Unlock Value

Strategic partnerships and portfolio simplification focus on resource optimization and core minerals, aiming to enhance earnings, margins, and future growth.

Earnings and Revenue Growth Forecasts

LSE:AAL - Analysts future estimates and past financials data (USD Millions)
DateRevenueEarningsFree Cash FlowCash from OpAvg. No. Analysts
12/31/202822,3223,3193,4026,7759
12/31/202722,1822,7222,6496,13111
12/31/202621,2321,8882,6755,47315
12/31/202518,546-1,2752,1305,511N/A
9/30/202517,831-1,4932,5145,934N/A
6/30/202526,660-1,5231,3396,357N/A
3/31/202526,975-2,2951,9157,230N/A
12/31/202417,745-3,2564,0498,103N/A
9/30/202421,154-2,6923,2567,988N/A
6/30/202424,562-2,1292,4627,873N/A
3/31/202427,607-9231,4757,185N/A
12/31/202330,6522834876,496N/A
9/30/202331,6671,1907746,900N/A
6/30/202332,6812,0961,0617,304N/A
3/31/202333,9003,3052,2538,535N/A
12/31/202235,1184,5143,4459,765N/A
9/30/202236,5025,7845,22411,474N/A
6/30/202237,8867,0547,00213,183N/A
3/31/202239,7207,8088,96314,953N/A
12/31/202141,5548,56210,92316,723N/A
9/30/202139,2977,684N/AN/AN/A
6/30/202137,0396,8069,36014,457N/A
3/31/202131,2434,4485,63410,538N/A
12/31/202025,4472,0891,9086,618N/A
9/30/202025,3662,112N/AN/AN/A
6/30/202025,2852,1354375,464N/A
3/31/202027,5782,8411,6606,564N/A
12/31/201929,8703,5472,8837,664N/A
9/30/201929,2773,845N/A7,408N/A
6/30/201928,6844,142N/A7,152N/A
3/31/201928,1473,846N/A7,140N/A
12/31/201827,6103,549N/A7,127N/A
9/30/201827,7153,295N/A7,418N/A
6/30/201827,8193,041N/A7,708N/A
3/31/201827,0313,104N/A7,879N/A
12/31/201726,2433,166N/A8,049N/A
9/30/201724,9043,494N/A7,304N/A
6/30/201723,5643,822N/A6,559N/A
3/31/201722,4712,708N/A5,979N/A
12/31/201621,3781,594N/A5,399N/A
9/30/201620,106-914N/A4,611N/A
6/30/201618,833-3,422N/A3,823N/A
3/31/201619,644-4,523N/A3,900N/A
12/31/201520,455-5,624N/A3,977N/A
9/30/201522,433-6,308N/A4,647N/A
6/30/201524,410-6,992N/A5,316N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: AAL is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (3.2%).

Earnings vs Market: AAL is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: AAL is expected to become profitable in the next 3 years.

Revenue vs Market: AAL's revenue (2.7% per year) is forecast to grow slower than the UK market (4.4% per year).

High Growth Revenue: AAL's revenue (2.7% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: AAL's Return on Equity is forecast to be low in 3 years time (12.2%).

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/04/30 17:40
End of Day Share Price 2026/04/30 00:00
Earnings2025/12/31
Annual Earnings2025/12/31

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

Anglo American plc is covered by 38 analysts. 15 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Wade NapierAvior Capital Markets
Izak RossouwBarclays
Izak RossouwBarclays