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

ANGLO AMERICAN PLC

(AAL)
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Anglo American 3Q Production Rose 24% on Quarter; Cuts 2020 Thermal Coal Guidance

10/22/2020 | 02:46am EST

By Jaime Llinares Taboada

Anglo American PLC on Thursday reported an on quarter increase in production for the third quarter and downgraded full-year guidance for thermal coal as strikes in Colombia are disrupting operations.

The FTSE 100 mining giant said that production increased 24% on quarter in the three months ended Sept. 30, after excluding the impact of the Grosvenor suspension. However, output was still running behind the numbers seen in the third quarter of 2019 for most of the commodities the group produces.

Diamond production fell 4% from a year earlier, platinum edged down 2% and palladium was flat. Iron ore declined 9% in South Africa and 18% in Brazil. Metallurgical coal slumped 26% and thermal coal was down 11%. Nickel production fell 10%.

Copper output rose 4% year-on-year driven by the Collahuasi operation in Chile and manganese was up 3%.

In addition, Anglo American cut its full-year production guidance for export thermal coal to 19 million metric tons from the previous 21 million tons due to strikes in Colombia.

The company also increased its forecasts for platinum to 1.7 million ounces-1.8 million ounces from 1.5 million ounces-1.7 million ounces. Palladium forecasts were also raised to 1.1 million ounces-1.2 million ounces from 1.0 million ounces-1.2 million ounces. For copper, the full-year production has been tightened to 630,000 metric tons-660,000 tons from 620,000 tons-670,000 tons.

Write to Jaime Llinares Taboada at jaime.llinares@wsj.com; @JaimeLlinaresT

(END) Dow Jones Newswires

10-22-20 0245ET

Stocks mentioned in the article
ChangeLast1st jan.
ANGLO AMERICAN PLC -0.86% 2246 Delayed Quote.3.36%
DOW JONES AFRICA TITANS 50 INDEX 0.00% 502.51 Delayed Quote.-6.44%
DOW JONES SOUTH AFRICA(ZAR) 0.97% 1706.58 Delayed Quote.-6.29%
EURO / BRAZILIAN REAL (EUR/BRL) 0.77% 6.4099 Delayed Quote.42.02%
MSCI UNITED KINGDOM (STRD, UHD) -1.53% 979.425 Real-time Quote.-16.45%
PALLADIUM 0.97% 2397.5 Delayed Quote.25.11%
PLATINUM 1.65% 985.082 Delayed Quote.0.46%
S&P AFRICA 40 INDEX 0.54% 163.03 Delayed Quote.-5.78%
THE PLATINUM GROUP PUBLIC COMPANY LIMITED 1.59% 2.56 End-of-day quote.-37.25%
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Financials (USD)
Sales 2020 27 289 M - -
Net income 2020 2 425 M - -
Net Debt 2020 6 384 M - -
P/E ratio 2020 14,9x
Yield 2020 2,91%
Capitalization 36 964 M 36 975 M -
EV / Sales 2020 1,59x
EV / Sales 2021 1,37x
Nbr of Employees 60 000
Free-Float 89,4%
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Technical analysis trends ANGLO AMERICAN PLC
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Mean consensus OUTPERFORM
Number of Analysts 21
Average target price 31,78 $
Last Close Price 29,52 $
Spread / Highest target 53,5%
Spread / Average Target 7,66%
Spread / Lowest Target -18,6%
EPS Revisions
Managers
NameTitle
Mark Cutifani Chief Executive Officer & Executive Director
Stuart John Chambers Chairman
Stephen Thomas Pearce Finance Director & Executive Director
Anthony Martin O'Neill Executive Director & Group Technical Director
Anne L. Stevens Independent Non-Executive Director
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