JPMorgan raises target for Anglo American stock to GBp 3,850
Published on 10/16/2026 at 09:41 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSAnalyst view and operating dates
- JPMorgan changed its rating to Neutral on October 14, 2026.
- Brazilian nickel underlying EBITDA fell to USD 18.00 million from USD 43.00 million in the first half of 2026.
- Anglo American stock trades at EUR 47.68 at 9:35 a.m. CEST at Lang & Schwarz on October 16, 2026.
- The next production report is scheduled for October 20, 2026.
Anglo American (ISIN GB00BTK05J60) stock was trading at EUR 47.68 at Lang & Schwarz on October 16, 2026 at 9:35 a.m. CEST. Markets Insider reported on October 14, 2026 that JPMorgan upgraded Anglo American from Underweight to Neutral and raised its target from GBp 3,350 to GBp 3,850.
JPMorgan turns less cautious
The rating change gives investors a clearer counterweight to the recent bullish broker calls. JPMorgan analyst Dominic O'Kane cited supply constraints across copper, aluminum, coal and steel, alongside possible tariff effects on US copper imports, as earnings drivers, according to Markets Insider.
The target remains below the more optimistic broker view cited by AskTraders. Barclays raised its target to GBp 4,780 from GBp 4,500 on October 13, 2026, while Deutsche Bank lifted its target to GBp 4,700 from GBp 4,500 on October 7, 2026.
What does the nickel sale mean?
Anglo American's Brazilian nickel operations generated underlying EBITDA of USD 18.00 million in the six months ended June 30, 2026, down from USD 43.00 million a year earlier. Nickel production fell 6 percent to 18,200 tonnes from 19,300 tonnes, according to The Deep Dive.
The proposed sale to MMG is valued at up to USD 500.00 million, including USD 350.00 million at completion and contingent payments. The European Commission has until November 30, 2026 to decide on the transaction, making the nickel portfolio a defined operating risk as Anglo American reshapes its mining assets.
Three dated signals
On October 7, 2026, Deutsche Bank raised its target to GBp 4,700 from GBp 4,500. On October 8, 2026, the company defended a nickel sale valued at USD 500.00 million. On October 14, 2026, JPMorgan raised its target to GBp 3,850 from GBp 3,350 and changed its rating to Neutral.
Next dates and the price
The company investor calendar lists the Q3 2026 production report for October 20, 2026 at 6:00 a.m. GMT. The November 30, 2026 European Commission decision is the next major external milestone. The euro quote places the focus on how the upcoming production figures develop after the broker revisions.
Anglo American was trading at EUR 47.68 at Lang & Schwarz on October 16, 2026 at 9:35 a.m. CEST. The primary listing is on the London Stock Exchange, where the stock was quoted at GBp 4,035 at 7:39 a.m. UTC on October 16, 2026.
The further course of trading is shown by the continuously updated real-time quote of Anglo American stock.
Anglo American stock facts
- Company: Anglo American plc
- ISIN: GB00BTK05J60
- Ticker: AAL
- Primary exchange: London Stock Exchange
- Price Lang & Schwarz (as of October 16, 2026, 9:35 a.m. CEST): EUR 47.68
- Market capitalization: GBP 43.2 billion (as of October 16, 2026)
- 52-week range: GBp 2,639.00-4,348.00
- Sector / Industry: Basic Materials / Industrial Materials
Market context: Market report FTSE 100.
