Anglo American keeps copper guidance: Anglo American stock gains 1.35 percent

Published on 10/26/2026 at 10:07 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Copper output fell 5 percent to 174,900 tonnes in Q3 2026. Anglo American stock costs EUR 44.16 on October 26, 2026, 1.35 percent above Xetra close.

Copper guidance holds through weather disruption

On October 20, 2026, Anglo American reported 174,900 tonnes of third-quarter copper production, down 5 percent year on year.
First-half 2026 revenue stood at USD 9.93 billion, while earnings per share came in at USD 0.58 against USD 0.74 consensus.
Anglo American stock trades at EUR 44.16 at 10:03 a.m. CEST at Lang & Schwarz on October 26, 2026, 1.35 percent above the Xetra close of October 23, 2026.

Luftaufnahme eines terrassierten Kupfer-Tagebaus mit Fahrzeugen bei goldenem Abendlicht — Anglo American plc GB00B1XZS820 zeigt einen riesigen Kupfer-Tagebau mit Baggern und Lastwagen im Abendlicht, Illustration mit AI erstellt.

Anglo American kept its 2026 copper production guidance at 700,000 to 760,000 tonnes after third-quarter output fell 5 percent to 174,900 tonnes. In its report dated October 20, 2026, Anglo American attributed the decline mainly to severe weather in Chile and lower-grade ore at Collahuasi.

Weather cuts output but guidance holds

Reuters reported on October 20, 2026, that copper production reached 174,900 metric tons in the July to September quarter, compared with 183,500 tons a year earlier. Output for the first nine months was 519,000 tonnes, down 1 percent from 526,000 tonnes in the same period of 2025, while the company maintained its full-year target.

The operational comparison is mixed. Premium iron ore production fell 4 percent to 13.8 million tonnes in the third quarter, but steelmaking coal rose 53 percent to 2.9 million tonnes. Manganese output increased 6 percent to 1.03 million tonnes, showing that the weather disruption was concentrated in selected operations.

What does the guidance mean for earnings?

Anglo American's copper outlook remains dependent on stronger grades in the fourth quarter. Its report lowered Copper Peru unit-cost guidance to 50 US cents per pound from 65 US cents, while the overall copper cost guide is 139 US cents per pound, compared with 145 US cents previously.

The latest interim backdrop was weaker than consensus. Investing.com lists first-half 2026 revenue of USD 9.93 billion against a USD 11.17 billion forecast and earnings per share of USD 0.58 against USD 0.74 expected, in its results record dated July 30, 2026.Investing.com

Merger and reporting dates

The proposed Anglo American and Teck combination remains in progress, with integration planning advanced and completion timing unchanged at March 2027, according to the October 20 company report. The same report said the Steelmaking Coal sale for up to USD 3.875 billion is expected to complete in the first quarter of 2027.

Investing.com lists February 25, 2027, as the next earnings date for Anglo American. That date follows the October production update and gives investors a defined point for testing fourth-quarter copper delivery against the 700,000 to 760,000 tonne annual range.

Stock moves above the Xetra close

Anglo American stock was trading at EUR 44.16 at Lang & Schwarz on October 26, 2026, at 10:03 a.m. CEST, up 1.35 percent versus the Xetra close of October 23, 2026, at EUR 43.57. The price response leaves the production shortfall balanced against unchanged copper guidance and lower Peru cost guidance. The further course of trading is shown by the continuously updated real-time quote of Anglo American stock.