⛏️ Company Overview: Antofagasta plc
Antofagasta is a Chilean-based copper mining group, listed in London and majority-owned by the Luksic family. It operates four key mines in Chile:
- Los Pelambres
- Centinela
- Antucoya
- Zaldívar
The company focuses on copper production, with by-products including gold and molybdenum. It’s a FTSE 100 constituent and a key player in the global copper supply chain, especially relevant for EVs, renewables, and infrastructure.
📊 Valuation Metrics (as of 12 Sept 2025)
| Metric | Value | Commentary |
|---|---|---|
| Share Price | 2,236.00p | Up +1.64% today |
| Market Cap | ~£21.2B | Large-cap mining stock |
| P/E Ratio (TTM) | ~45.83 | Elevated — reflects cyclical earnings volatility |
| Forward P/E | ~34.20 | Still high, but improving |
| PEG Ratio | ~1.50 | Fairly valued relative to growth |
| Dividend Yield | ~1.10% | Modest, typical for miners with reinvestment focus |
| EPS (FY 2024) | 62.8¢ | Down from 72.0¢ in FY 2023 |
| Revenue (FY 2024) | $6.61B | Up YoY |
| Profit Before Tax | $2.07B | Stable performance |
| Interim Dividend (2025) | 16.6¢ | Payable 30 Sept 2025 |
🧠 Strategic Highlights
- Copper Focus: ~90% of revenue from copper
- Cost Discipline: Net cash position maintained
- Sustainability: Strong ESG credentials, water-efficient operations
- Risks: Exposure to Chilean regulatory shifts and copper price volatility
Antofagasta offers exposure to long-term copper demand, but trades at a premium due to its low-cost assets and clean balance sheet.
