Antofagasta Shares - Berenberg raises price target after copper rerating

Antofagasta shares came under renewed analyst scrutiny this week as Berenberg lifted its price target and earnings forecasts, citing a stronger copper price backdrop and robust project pipeline. We also review the miner’s recent sector performance and fundamentals.

Edited by ad hoc news Sector & Peer-Group Desk. Verified prior to publication on 06/19/2026, 18:20 UTC. Details in the imprint.

Antofagasta (GB0000456144) sits at the center of fresh analyst attention. Berenberg has raised its price target and earnings forecasts for the Chile-focused copper miner, citing a more supportive copper price outlook and resilient operations, according to a recent analyst note.

Berenberg turns more positive

Berenberg has turned more upbeat on Antofagasta’s medium-term outlook and lifted its price target, alongside higher earnings estimates, as highlighted in a recent MarketScreener summary of the broker’s call. The bank points to an improved copper price backdrop and solid project execution.

The note underlines Antofagasta’s leverage to structurally tight copper markets, with demand supported by electrification and energy transition spending. Berenberg also references management’s disciplined capital allocation and the company’s track record of maintaining a strong balance sheet through the cycle.

Weekly view and sector context

Over the week, Antofagasta shares have traded lower in London despite the more constructive broker tone, reflecting broader volatility in mining stocks as copper prices consolidate recent gains. According to a Davy quote page, the shares last traded around 4,023.00 GBX on 06/19/2026, down roughly 3.5% on the day.

Peer miners such as Anglo American and Glencore have also seen choppy trading this week, as investors reassess positioning after a strong year-to-date run in copper-linked names. Against this backdrop, Antofagasta’s analyst support offers a contrast to the more cautious tape in the wider sector.

How the company makes money

Antofagasta’s business model centers on large-scale copper mining in Chile, with additional by-products such as gold and molybdenum. The group operates key mines including Los Pelambres, Centinela, Antucoya and Zaldívar, and generates revenue primarily from the sale of copper concentrate and cathodes to global industrial customers.

Where the stock trades today

The shares of Antofagasta (GB0000456144) trade on the London Stock Exchange at around 4,023.00 GBX as of 06/19/2026, 15:54 BST.

Key facts on Antofagasta stock

• Company: Antofagasta plc
• ISIN: GB0000456144
• WKN: 867578
• Ticker: ANTO
• Venue: London Stock Exchange
• Price (as of 06/19/2026, 15:54 BST): 4,023.00 GBX
• Market cap: approximately GBP 19.8 billion (as of 06/19/2026)
• Sector / Industry: Materials / Copper mining
• Index membership: FTSE 100
• Next earnings date: not officially scheduled

This article was AI-assisted and editorially reviewed. Price and company data without warranty; prices and dates may change at short notice. No investment advice, no buy or sell recommendation. Trading securities involves risk up to total loss of capital.