Equity, Bottom-up Analyst, Investics Research

Sameer Taneja

A buy-side analyst with over 18 years of experience investing in Asian markets and specializing in the mid-small cap space, emphasizing value investing in companies with good free cash flows/dividends and long-term holding horizons. 
Exempt Financial Adviser (EFA) under CrossASEAN Research Pte Ltd. It is important to note that the information provided by Investics Research is based on publicly available data and own knowledge, which has been gathered and analyzed from a variety of sources. While every effort has been made to ensure the accuracy and completeness of the information provided, it is not guaranteed to be free from errors or omissions. All forecasts and estimates are based on information that has been obtained from public sources that are considered to be reliable. The sources include but are not limited to, company announcements, exchange filings, presentations, etc. Investics does not guarantee the accuracy and completeness of the forecasts, estimates, and/or other information.

Equity, Bottom-up Analyst

Copper Price Inflection To 14,000 USD/Ton And Three Stocks To Play It

Copper in Focus: US Tariff Risks Fuel Stockpiling; VBM IPO Hits Roadblock

Amerigo Resources (ARG CN): Copper Factory Tailings Processor That Sweeps Upside To Shareholders

Antofagasta (ANTO LN): Set Up For a Record H2 FY26

Antofagasta Q2 2026: Steady Volumes, Record Copper Prices

Copper Price Correction: Four Stocks To Look At

Grasberg Slips, Copper Rips: Sulfuric Acid Shortages and Diesel Costs Add Fuel

Investics Research

It is important to note that the information provided by Investics Research is based on publicly available data and own knowledge, which has been gathered and analyzed from a variety of sources. While every effort has been made to ensure the accuracy and completeness of the information provided, it is not guaranteed to be free from errors or omissions. All forecasts and estimates are based on information that has been obtained from public sources that are considered to be reliable. The sources include but are not limited to, company announcements, exchange filings, presentations, etc. Investics does not guarantee the accuracy and completeness of the forecasts, estimates, and/or other information.

Equity Bottom-up Research

Equity Bottom-Up

<ul>
<li>H1 FY26 EBITDA rose 27% to $2.84bn on a 36% higher realized copper price, with margin widening five points to 63.4%, among the sector's highest.</li>
<li>Group copper guidance cut to 625-655kt on the Los Pelambres weather event, but every asset-level line, gold, molybdenum, and capex guidance is unchanged.</li>
<li>FY26e EV/EBITDA of 8.6x falling to 7.6x FY27e, P/E 25.7x to 22.5x, on FY27e copper sales of 762.5kt.</li>
</ul>


H1 FY26 EBITDA rose 27% to $2.84bn on a 36% higher realized copper price, with margin widening five points to 63.4%, among the sector's highest.
Group copper guidance cut to 625-655kt on the Los Pelambres weather event, but every asset-level line, gold, molybdenum, and capex guidance is unchanged.
FY26e EV/EBITDA of 8.6x falling to 7.6x FY27e, P/E 25.7x to 22.5x, on FY27e copper sales of 762.5kt.


Antofagasta Plc (ANTO LN): : H1 FY2026 Results, Guidance Rebased On Weather, Thesis Intact