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

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

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

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

Antofagasta (ANTO LN) H1 2025: Outperforming The Pack

Copper: Commodities Ex-Energy Taking A Hammering,1.2 Million Ton Inventory Unwind In The Short-Term

Copper: Steady Path to 13k USD/Ton, With Capstone (CS CN) Being The Latest Supply Casualty

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>Copper production held steady at 142kt QoQ; gold (46.3koz) and molybdenum (3.1kt) were also in line, though H1 copper of 285kt fell 9% YoY.</li>
<li>Net cash costs of $1.36/lb rose 26% QoQ on higher input costs; H1 net costs of $1.22/lb fell 8% YoY, aided by by-product credits.</li>
<li>Record copper prices ($6.57/lb realized) supported the quarter; growth projects remain on track for commissioning next year, targeting a 30% increase in production.</li>
</ul>


Copper production held steady at 142kt QoQ; gold (46.3koz) and molybdenum (3.1kt) were also in line, though H1 copper of 285kt fell 9% YoY.
Net cash costs of $1.36/lb rose 26% QoQ on higher input costs; H1 net costs of $1.22/lb fell 8% YoY, aided by by-product credits.
Record copper prices ($6.57/lb realized) supported the quarter; growth projects remain on track for commissioning next year, targeting a 30% increase in production.


Antofagasta Q2 2026: Steady Volumes, Record Copper Prices