London, June 15, 2026, 14:07 BST
- Antofagasta traded around 4,300p Monday, gaining roughly 6% to 7%. The FTSE 100 was flat to slightly higher.
- Copper was out front. The LME’s latest three-month copper price, which posts on a one-day lag, showed $13,698 a tonne, up 1.60%.
- Q2 2026 production data lands July 15. Half-year earnings due August 13.
Antofagasta plc shares surged Monday as copper and cyclical stocks came back into favor. The company’s website showed shares last at 4,317p, up 6.75% as of 14:06 BST. Hargreaves Lansdown’s delayed data put the shares at 4,304p/4,308p, up 6.48%. The FTSE 100, by comparison, was up just 0.09%. Antofagasta
Antofagasta shares usually trade in line with copper. Copper up, forecasts for mining groups like Antofagasta tend to go higher. A fall in copper can mean quick selloffs for these stocks. The London Metal Exchange last closed three-month copper at $13,698 a tonne, up 1.60%. Copper is “key for electricals, construction, EVs and renewables,” the exchange said. Lme
European stocks rose Monday, pushed higher by mining names while energy lagged. Oil retreated on reports of a US-Iran deal. Cheaper oil is good for miners since it lowers fuel costs, though it remains to be seen if Antofagasta can turn today’s commodity bump into stronger performance. The Guardian
Bulls point to Antofagasta’s copper exposure, betting demand sticks with electrification and supply tight. In its Q1 update, CEO Iván Arriagada said “the medium-term fundamentals for copper are compelling.” The miner kept its 2026 copper output target at 650,000–700,000 tonnes. Net cash cost guidance stayed at $1.15–$1.35 a pound, with by-product credits from gold and molybdenum. Antofagasta
Antofagasta has jumped more than 130% in the past year, data from Trading Economics shows. Bears say much of the upside is priced in. Hargreaves Lansdown lists the dividend yield at 1.11%. The price-to-earnings ratio is above 40. That might work if growth holds up, but if copper prices slip, costs rise, or expansion gets held up, the high multiple gives less room to maneuver. Trading Economics
Antofagasta’s next update for investors will be its Q2 2026 production report on July 15, followed by half-year results on August 13. Key things to watch: any quarter-on-quarter improvement at Los Pelambres and Centinela, whether net cash costs remain under control, and if the Centinela Second Concentrator stays on schedule. The stock only looks interesting now to buyers who think copper prices hold and management hits its numbers. After Monday’s move up, shares trade close to full value and are more at risk if anything disappoints. Antofagasta
