Antofagasta stock falls over 5 percent as copper miner tests key resistance

Published on 09/10/2026 at 19:30 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Antofagasta stock drops more than 5 percent in London trading on September 10, 2026, as the copper miner comes under market pressure. Recent half-year figures showed higher margins and profit despite weather-related production issues.

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Antofagasta plc stock (ISIN GB0000456144) is down more than 5 percent in London trading on September 10, 2026, with the shares retreating from recent highs near 39.59 pounds as copper market volatility weighs on miners.

Stock under pressure in London

According to Teleborsa on September 10, 2026, Antofagasta shares fell about 5.18 percent during the London session, making the copper producer one of the weakest names in the FTSE 100 on the day.

The same technical overview from Teleborsa highlights that the stock is testing a resistance area around 39.59 pounds, with potential downside to a short-term support near 37.04 pounds and upside targets around 42.14 pounds if the positive phase resumes.

Recent half-year figures show stronger margins

Beyond the latest price move, investors are still digesting Antofagasta's most recent interim results. As summarized by Parqet, the company reported an 18 percent rise in revenue to about USD 4.5 billion in the first half of 2026 compared with the prior-year period, driven by higher copper margins.

According to the same H1 2026 overview from Parqet, EBITDA increased by 27 percent year-on-year to roughly USD 2.8 billion, lifting the EBITDA margin to 63.4 percent and pushing profit before tax up by 72 percent for the half-year.

The same source notes that net cash costs fell by about 8 percent in H1 2026, helped by an efficiency program that delivered USD 67 million of savings against a full-year target of USD 110 million, underlining management's focus on cost control as copper prices fluctuate.

Guidance and production risks remain in focus

Investors are also watching Antofagasta's production guidance and weather-related risks. A recent update summarized by Parqet reported adjusted earnings per share of USD 0.859 versus a forecast of USD 0.7533 for the latest reporting period, alongside EBITDA of USD 2.84 billion and revenue of USD 4.48 billion.

In the same update, Parqet notes that Antofagasta cut its full-year copper production guidance to a range of 625,000 to 655,000 tonnes from around 680,000 tonnes previously due to severe winter storms at the Los Pelambres operation in Chile, illustrating how weather can directly affect output and earnings.

Despite the guidance cut, the company increased its interim dividend to USD 0.301 per share from a lower level previously, and according to Parqet the shares initially fell around 4.9 percent after the production revision before stabilizing near their 52-week high.

Valuation and trading levels

The same fundamentals overview from Parqet shows that Antofagasta's market capitalization stands around EUR 46.67 billion, based on approximately 985.86 million shares outstanding, placing the group among the larger global copper miners.

According to the same data, the stock's 52-week trading range runs between EUR 25.83 and EUR 53.15, with recent trading described as almost unchanged near the upper end of that band after the latest results, which suggests that the current pullback of more than 5 percent still leaves the shares relatively close to their yearly high.

On a valuation basis, Parqet reports a price-to-earnings ratio of 32.24 and a dividend yield of 1.16 percent based on trailing twelve-month payouts of EUR 0.55 per share, metrics that some investors will weigh against the company's production growth plans and copper price expectations.

Antofagasta stock price snapshot

As of the latest London Stock Exchange data referenced on September 10, 2026, Antofagasta stock is trading on its primary listing in London under the ticker ANTO.L, with the shares down more than 5 percent on the day in pounds, and the move coming after a prior close near recent resistance levels identified around 39.59 pounds in technical commentary.