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    AAL   GB00B1XZS820

ANGLO AMERICAN PLC

(AAL)
  Report
Delayed Quote. Delayed London Stock Exchange - 01/18 11:35:25 am
3376 GBX   +0.13%
01/18FTSE Down, Government Loans to Energy Suppliers Seen as Likely
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01/17RBC Lifts Anglo American's PT, Keeps Outperform Rating
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01/17ANGLO AMERICAN : Transaction in own shares
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SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Anglo American : De Beers Rough-Diamond Sales Fell Due to India Factory Closures

11/24/2021 | 03:09am EST

By Ian Walker

Anglo American PLC said Wednesday that rough-diamond sales by its majority-owned De Beers Group in 2021's ninth sales cycle fell 13% from the previous cycle, in line with the board's expectations given factory closures in India due to the Diwali festival.

The diversified mining company said that sentiment continues to be positive on the back of strong demand for diamond jewelry from U.S. consumers.

"As we head into Cycle 10, we anticipate rough diamond demand will likewise be affected by the Christmas holiday closure of cutting factories in southern Africa, but we expect to see positive industry conditions prevailing into the new year in light of the healthy outlook for the key retail selling season," De Beers Chief Executive Bruce Cleaver said.

De Beers sold $430 million of diamonds in the ninth sales cycle of the year, compared with $492 million in the eighth and $462 million in last year's ninth cycle, Anglo American said. There are 10 sales cycles each year.

Anglo American said sales 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. 8 and Nov. 23.

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

(END) Dow Jones Newswires

11-24-21 0309ET

Stocks mentioned in the article
ChangeLast1st jan.
ANGLO AMERICAN PLC 0.13% 3376 Delayed Quote.11.94%
PLATINUM -0.71% 974.5 Delayed Quote.0.52%
All news about ANGLO AMERICAN PLC
01/18FTSE Down, Government Loans to Energy Suppliers Seen as Likely
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01/14ANGLO AMERICAN : Transaction in own shares
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Financials (USD)
Sales 2021 41 901 M - -
Net income 2021 8 584 M - -
Net Debt 2021 4 565 M - -
P/E ratio 2021 6,72x
Yield 2021 7,91%
Capitalization 55 852 M 55 777 M -
EV / Sales 2021 1,44x
EV / Sales 2022 1,58x
Nbr of Employees 95 000
Free-Float 92,6%
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Technical analysis trends ANGLO AMERICAN PLC
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Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 22
Last Close Price 45,91 $
Average target price 44,30 $
Spread / Average Target -3,50%
EPS Revisions
Managers and Directors
Mark Cutifani Chief Executive Officer & Executive Director
Stephen Thomas Pearce Finance Director & Executive Director
Stuart John Chambers Chairman
Anthony Martin O'Neill Executive Director & Group Technical Director
Anne L. Stevens Independent Non-Executive Director
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