Jefferies Financial Group Reaffirms "Hold" Rating for Antofagasta (LON:ANTO)

Key Points

• Jefferies reaffirmed a "hold" on Antofagasta with a GBX 3,700 price target (implying ~2.3% downside), while overall analyst coverage is mixed—1 Buy, 4 Hold, 3 Sell—with a consensus rating of "Reduce" and an average target of GBX 3,243.75.
• Operationally, Antofagasta reported strong Q1 cost performance and reiterated its 2026 production guidance despite an ~8% year‑on‑year drop in copper output; shares opened at GBX 3,788 (down ~2.6%), and the company has a market cap of about £37.34bn and a P/E of 28.1.

Antofagasta (LON:ANTO - Get Free Report)'s stock had its "hold" rating restated by investment analysts at Jefferies Financial Group in a research note issued to investors on Thursday,Digital Look reports. They presently have a GBX 3,700 price objective on the mining company's stock. Jefferies Financial Group's price objective suggests a potential downside of 2.32% from the stock's current price.

Other equities research analysts also recently issued reports about the company. Berenberg Bank reaffirmed a "hold" rating and issued a GBX 3,700 price target on shares of Antofagasta in a research report on Thursday. Morgan Stanley lowered shares of Antofagasta to an "underweight" rating and dropped their price objective for the stock from GBX 3,070 to GBX 3,050 in a report on Tuesday, February 3rd. JPMorgan Chase & Co. boosted their target price on Antofagasta from GBX 3,100 to GBX 3,200 and gave the stock a "neutral" rating in a report on Friday, April 10th. Canaccord Genuity Group cut Antofagasta to a "hold" rating and raised their price target for the company from GBX 3,165 to GBX 4,100 in a report on Wednesday, February 4th. Finally, Deutsche Bank Aktiengesellschaft restated a "sell" rating and set a GBX 3,100 target price on shares of Antofagasta in a report on Thursday. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Reduce" and a consensus price target of GBX 3,243.75.

Antofagasta Trading Down 2.6%

Shares of LON ANTO opened at GBX 3,788 on Thursday. The company has a quick ratio of 2.78, a current ratio of 2.90 and a debt-to-equity ratio of 74.56. Antofagasta has a 12 month low of GBX 1,526.50 and a 12 month high of GBX 4,475. The company has a market cap of £37.34 billion, a price-to-earnings ratio of 28.10, a P/E/G ratio of -1.08 and a beta of 1.38. The business has a fifty day simple moving average of GBX 3,701.95 and a 200-day simple moving average of GBX 3,269.35.

Antofagasta (LON:ANTO - Get Free Report) last released its earnings results on Tuesday, February 17th. The mining company reported GBX 129.30 earnings per share for the quarter. Antofagasta had a net margin of 15.90% and a return on equity of 10.67%. Sell-side analysts predict that Antofagasta will post 87.0403995 EPS for the current year.

Key Headlines Impacting Antofagasta

Here are the key news stories impacting Antofagasta this week:

• Positive Sentiment: Company reported strong Q1 cost performance led by Los Pelambres and Centinela, which supports margins even with lower volumes. Antofagasta Reports Strong Q1 2026 Cost Performance
• Positive Sentiment: Antofagasta reiterated its 2026 production guidance and said it expects to meet full‑year targets despite Q1 setbacks, which reduces execution risk for the year. Antofagasta reiterates copper production outlook
• Positive Sentiment: Company signalled interest in Argentina’s copper opportunities, indicating potential long‑term growth/asset pipeline expansion. Chilean miner Antofagasta signals interest in joining Argentina’s copper rush
• Neutral Sentiment: Market copper prices (LME and SHFE) closed lower overnight — a commodity headwind that can pressure revenue but is outside company control. Antofagasta's Q1 Cash Cost Performed Strongly, LME Copper and SHFE Copper Both Closed Lower Overnight
• Negative Sentiment: Q1 copper output fell ~8% year‑on‑year, a production dip that pressures near‑term revenue despite management saying recovery is expected through the year. Antofagasta says Q1 copper output fell 8% but expects to meet full-year guidance
• Negative Sentiment: Deutsche Bank reaffirmed a 'sell' rating and set a GBX 3,100 price target, adding downward analyst pressure on the shares. Deutsche Bank reaffirms sell on Antofagasta
• Negative Sentiment: Berenberg lowered its stance to 'hold' (GBX 3,700 target), signalling reduced near‑term enthusiasm from another broker. Berenberg lowers Antofagasta to 'hold'

Antofagasta Company Profile

Antofagasta plc is a copper mining group with significant by-product production and interests in transportation. The Group creates value for its stakeholders through the discovery, development and operation of copper mines. The Group is committed to generating value in a safe and sustainable way throughout the commodity cycle.

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