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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 - 01/22 11:35:07 am
2627.5 GBX   -1.52%
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SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Glencore beats production estimates but trims coal guidance

10/30/2020 | 03:08am EST
FILE PHOTO: The logo of commodities trader Glencore is pictured in front of the company's headquarters in Baar

JOHANNESBURG (Reuters) - Glencore reported stronger third-quarter production but its shares fell after it lowered its 2020 coal production guidance by 5.7% as a strike at the Cerrejon mine in Colombia entered its 60th day on Friday.

Cerrejon, owned equally by Glencore, BHP Group and Anglo American, has been in negotiations with its largest union and on Wednesday said that "significant advances" had been made.

With Glencore's year-to-date coal production down 20% at 83.5 million tonnes, partly owing to the Cerrejon strike, the company downgraded its full-year output guidance to 109 million tonnes from 114 million tonnes.

Glencore's London-listed shares were down 2.4% by 0804 GMT.

The group maintained its 2020 guidance for all other products.

Copper production was up 17.6% from the previous quarter at 347,000 tonnes, partly because of an end to coronavirus-related mine shutdowns in various countries.

"Glencore has bettered our estimates in Q3, a trend we have been generally seeing as companies recover from COVID-19 impacts from Q2," RBC analysts said.

Year-to-date copper production was 934,700 tonnes, 8% lower than a year earlier, while cobalt output was down 37% at 21,600 tonnes owing to the shuttering of its Mutanda mine in the Democratic Republic of Congo (DRC).

Glencore subsidiary Katanga Mining's Kamoto Copper Company mine in DRC is ramping up to full production and should produce 270,000 tonnes of copper as cathode this year, head of Africa copper Mark Davis said last month.

"Glencore has delivered a solid third-quarter operating performance, including the continued successful ramp-up of Katanga, which remains on track to achieve design capacity by year-end," said Chief Executive Ivan Glasenberg.

(Reporting by Helen Reid; editing by David Goodman and Jason Neely)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
ANGLO AMERICAN PLC -1.52% 2627.5 Delayed Quote.8.37%
BHP GROUP -1.12% 2113 Delayed Quote.9.77%
DOW JONES AFRICA TITANS 50 INDEX 0.35% 543.37 Delayed Quote.2.30%
GLENCORE PLC -2.06% 270.8 Delayed Quote.16.22%
S&P AFRICA 40 INDEX -0.48% 176.06 Delayed Quote.2.26%
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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 18,2x
Yield 2020 2,46%
Capitalization 48 995 M 48 936 M -
EV / Sales 2020 2,00x
EV / Sales 2021 1,62x
Nbr of Employees 60 000
Free-Float 89,4%
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Technical analysis trends ANGLO AMERICAN PLC
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 22
Average target price 39,14 $
Last Close Price 35,94 $
Spread / Highest target 32,7%
Spread / Average Target 8,88%
Spread / Lowest Target -33,1%
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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