Anglo American reaffirms 2026 guidance: Anglo American stock holds GBP 39.5 billion value

Published on 10/23/2026 at 10:40 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Copper output fell 5 percent in the third quarter of 2026. Anglo American stock costs EUR 44.16 on October 23, 2026, at GBP 39.5 billion value.

Production and valuation

Copper production fell 5 percent in the third quarter ended September 30, 2026.
Diamond production guidance rose to 25 million to 28 million carats for 2026.
Anglo American stock trades at EUR 44.16 at 10:35 a.m. CEST at Lang & Schwarz on 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 (GB00BTK05J60) kept its 2026 production guidance after copper output fell 5 percent to 174,900 tonnes in the third quarter ended September 30, 2026. The production report was released on October 20, 2026, through FT.

Guidance stays intact

The copper decline was linked to extreme winter weather in Chile and lower-grade stockpile ore at Collahuasi. Anglo American retained its 2026 copper target of 700,000 to 760,000 tonnes and premium iron ore target of 55 million to 59 million tonnes, according to the October 20 report.

The operating mix was uneven. Premium iron ore production fell 4 percent to 13.8 million tonnes, while steelmaking coal rose 53 percent to 2.9 million tonnes and nickel increased 3 percent to 10,400 tonnes in the third quarter.

What does the update mean?

The clearest positive revision came from diamonds. Production guidance for 2026 rose to 25 million to 28 million carats from 21 million to 26 million, while expected unit costs fell to about USD 70 per carat from USD 80, as reported by Investing.com on October 20, 2026. The figures give the report a more constructive angle despite weaker copper and iron ore volumes.

Three recent milestones

On October 14, 2026, JPMorgan raised its Anglo American target from GBp 3,350 to GBp 3,850 and upgraded the rating from Underweight to Neutral, according to Investing.com. On October 20, 2026, third-quarter copper production was 174,900 tonnes, down 5 percent year over year. On October 20, 2026, Anglo American maintained its 2026 production guidance while raising the diamond range to 25 million to 28 million carats.

Next corporate milestone

The proposed merger with Teck Resources remains on track for completion by March 2027, with regulatory approval in China identified as the final outstanding milestone in the October 20 production update carried by MarketScreener.

Stock valuation remains central

For investors, the report leaves two competing signals: lower copper output in the latest quarter and stronger diamond guidance for the full year. The London-listed miner had a market capitalization of GBP 39.5 billion on October 23, 2026, while its primary-market 52-week range was GBp 2,639.00 to GBp 4,643.80.

Anglo American stock price

Anglo American stock was trading at EUR 44.16 at Lang & Schwarz on October 23, 2026, at 10:35 a.m. CEST. The further course of trading is shown by the continuously updated real-time quote of Anglo American stock.