Anglo American Posts Record H1 EBITDA Growth Amid Regulatory Risks

Anglo American's H1 2026 financials show a significant increase in underlying EBITDA, reaching $4.0 billion. This represents a $1.0 billion rise from the same period last year. The company's revenue also reached $9.9 billion for the six months ended June 30, 2026.

The miner's operating performance is being driven by copper growth, which accounts for 75% of its combined 2026 pro forma EBITDA, estimated at $11.5 billion. However, regulatory hurdles, such as China's antitrust approval for the proposed Teck merger, remain a key concern.

Despite this, Fitch has revised Anglo American's outlook to Stable from Negative while affirming its BBB+ rating. The company's stock price remains near its yearly high, trading at GBp 4,097 on October 2, 2026, with a daily gain of 2.97%.

Analysts' consensus targets for the share price are below current levels, ranging from GBp 3,000 to GBp 5,000. The next major catalysts will be merger approval and upcoming production updates.