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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Anglo American plc    AAL   GB00B1XZS820

ANGLO AMERICAN PLC

(AAL)
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Delayed Quote. Delayed London Stock Exchange - 08/16 11:35:05 am
1698.4 GBp   +0.13%
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Anglo American 2Q De Beers Production Drops 14%, Cuts Fiscal Year Diamond Output

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07/18/2019 | 02:49am EDT

By Oliver Griffin

Anglo American PLC (AAL.LN) said on Thursday that second-quarter diamond production from its majority-owned De Beers business fell 14% as it follows a strategy of producing to market demand, and revised its diamond-production guidance downwards.

The diversified miner said that while overall second-quarter production rose 2% on a copper-equivalent basis, De Beers production in the three months ended June 30 fell to 7.7 million carats, down from 9 million carats in the year-earlier period.

Overall production on a copper-equivalent basis was boosted by the ramp-up of operations at the company's Minas Rio iron-ore operation in Brazil. Anglo American said Minas Rio, which produced 5.9 million metric tons of iron ore in the second quarter, continues to ramp-up ahead of schedule.

Removing the impact of operations at Minas Rio, Anglo American said its second-quarter production fell 4% on a copper-equivalent basis.

Copper production in the second quarter of the year rose 1% to 159,100 due to strong performances at the Los Bronces and Collahuasi mines. Platinum production rose 3% to 520,300 ounces and palladium decreased by 1% to 347,200 ounces, due to a change in mix of production, the company said.

In South Africa, Anglo American's Kumba iron-ore operation fell 9% to 10.5 million tons due to unscheduled plant maintenance.

Anglo American revised its diamond production outlook down to around 31 million carats for the full year, the lower end of its previous guidance range. The company also cut the outlook for production of iron ore at its Kumba operations to a range of 42 million to 43 million tons for the year.

However, it wasn't all bas news as the company raised its Minas Rio guidance to a range of 19 million to 21 million tons, from a previous range of 18 million to 20 million tons.

Write to Oliver Griffin at oliver.griffin@dowjones.com; @OliGGriffin

Stocks mentioned in the article
ChangeLast1st jan.
ANGLO AMERICAN PLATINUM LTD -1.23% 794.53 End-of-day quote.48.95%
ANGLO AMERICAN PLATINUM LTD(ADR) -0.68% 8.79 Delayed Quote.44.57%
ANGLO AMERICAN PLC 0.32% 314.19 End-of-day quote.0.06%
ANGLO AMERICAN PLC End-of-day quote.
ANGLO AMERICAN PLC 0.13% 1698.4 Delayed Quote.-2.83%
PLATINUM 0.70% 846.33 Delayed Quote.6.00%
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Financials (USD)
Sales 2019 28 664 M
EBIT 2019 7 442 M
Net income 2019 3 903 M
Debt 2019 3 342 M
Yield 2019 6,00%
P/E ratio 2019 6,83x
P/E ratio 2020 7,62x
EV / Sales2019 1,11x
EV / Sales2020 1,14x
Capitalization 28 508 M
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Technical analysis trends ANGLO AMERICAN PLC
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 26
Average target price 29,00  $
Last Close Price 20,63  $
Spread / Highest target 82,1%
Spread / Average Target 40,6%
Spread / Lowest Target 8,09%
EPS Revisions
Managers
NameTitle
Mark Cutifani Chief Executive Officer & Executive Director
Stuart John Chambers Chairman
Stephen Thomas Pearce Finance Director & Non-Executive Director
Anthony Martin O'Neill Technical Director & Director
Jack Edward Thompson Independent Non-Executive Director
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