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Berenberg downgrades Anglo American but stays bullish on mining sector overall

Analyst Insights
18 Jun 2026
Proactive Investors
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Neutral
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Berenberg downgraded Anglo American to 'hold' after strong recent gains, expecting a neutral share price until its merger with Teck Resources completes. Despite this, the broker remains positive on mining stocks overall, favoring Glencore as a top pick among diversified miners and upgrading several other miners like Central Asia Metals and Valterra Platinum. Berenberg raised its copper price forecast due to supply risks and prefers small to mid-cap miners, seeing value gaps created by recent market volatility. The outlook for platinum group metals and uranium remains strong, with specific gold producers also favored for potential gains.

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