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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 : De Beers Diamond Sales Slip in Ninth Cycle

11/18/2020 | 03:00am EST

By Ian Walker

Anglo American PLC said Wednesday that rough diamond sales by its majority-owned De Beers Group were 3.6% lower in the ninth sales cycle compared with the previous cycle, adding that increasing Covid-19 infections continue to present risks.

The diversified mining company said diamond sales in the ninth cycle reflect stable consumer demand for diamond jewelry at the retail level in the U.S. and China.

De Beers sold $450 million worth of diamonds on the ninth cycle compared with $467 million in the eighth, and $400 million in the ninth cycle of 2019. There are 10 sales cycles each year.

The company said that sales for the ninth cycle are provisional figures due to a change in the company's approach to diamond sales because of pandemic-related movement restrictions around the globe. The figures are based on expected sales between Nov. 2 and Nov. 16.

De Beers Group Chief Executive Bruce Cleaver said the company expects reasonable demand for diamonds to continue throughout the holiday season.

Write to Ian Walker at ian.walker@wsj.com

(END) Dow Jones Newswires

11-18-20 0259ET

Stocks mentioned in the article
ChangeLast1st jan.
ANGLO AMERICAN PLC 1.03% 2541.5 Delayed Quote.3.73%
PLATINUM -0.25% 1094.502 Delayed Quote.2.90%
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Financials (USD)
Sales 2020 27 824 M - -
Net income 2020 2 501 M - -
Net Debt 2020 6 642 M - -
P/E ratio 2020 17,4x
Yield 2020 2,58%
Capitalization 46 886 M 46 804 M -
EV / Sales 2020 1,92x
EV / Sales 2021 1,55x
Nbr of Employees 60 000
Free-Float 89,4%
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Technical analysis trends ANGLO AMERICAN PLC
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 22
Average target price 39,14 $
Last Close Price 34,40 $
Spread / Highest target 38,7%
Spread / Average Target 13,8%
Spread / Lowest Target -30,1%
EPS Revisions
Managers and Directors
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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