AAL.L - Anglo American plc

LSE - LSE Delayed Price. Currency in GBp
2,245.50
+70.00 (+3.22%)
At close: 4:35PM GMT
Stock chart is not supported by your current browser
Previous Close2,175.50
Open2,190.50
Bid2,245.50 x 0
Ask2,247.00 x 0
Day's Range2,190.00 - 2,260.00
52 Week Range1,654.80 - 2,294.00
Volume3,596,181
Avg. Volume3,594,946
Market Cap30.759B
Beta (5Y Monthly)1.19
PE Ratio (TTM)7.02
EPS (TTM)320.00
Earnings DateFeb 20, 2020
Forward Dividend & Yield0.90 (4.15%)
Ex-Dividend DateAug 15, 2019
1y Target Est24.50
  • Anglo American Seeks to Buy $3.8 Billion U.K. Potash Mine
    Bloomberg

    Anglo American Seeks to Buy $3.8 Billion U.K. Potash Mine

    (Bloomberg) -- Want the lowdown on European markets? In your inbox before the open, every day. Sign up here.Anglo American Plc has moved to buy a giant U.K. potash mine that was running out of money, adding another major growth project for the century-old miner.The deal for Sirius Minerals Plc is likely to secure 1,200 jobs and save the development of a mine in one of the U.K.’s most economically deprived areas. It’s also a further sign that Anglo is committed to growing its business -- adding a second major project to its Peruvian copper-mine development -- at a time when most rivals are reluctant to expand.Anglo said it’s in advanced talks with Sirius about a possible 5.5 pence-a-share offer that values the company at about $508 million. While that’s a premium of 34% on Sirius’s closing share price on Jan. 7, the company was worth more than $2.3 billion 18 months ago, before its funding plans dried up.Sirius’s plans were thrown into doubt last year after it suspended a bond sale, required to unlock a $2.5 billion credit facility from JPMorgan Chase & Co. The company was forced in November to scale back its plans, but had also said it was talking with potential investors or buyers.Anglo said it will build the mine for the same $3.1 billion that Sirius earmarked in its updated plan. Anglo shares fell 0.5%, while Sirius rallied as much 46%, before trading 35% higher as of 4:04 p.m. in London.Sirius debt owners were the big winners, with the company’s $106.6 million of convertible bonds tripling. An offer to acquire all or a majority of the company’s shares triggers a so-called change of control clause in the bonds that allows creditors to redeem the debt.Hard TimesThe deal will be a huge relief for an economically depressed region. Overlooking the seaside town of Whitby, the setting for part of Bram Stoker’s “Dracula,” Sirius has already started work on two giant shafts and a 37-kilometer (23-mile) tunnel to transport the potash to the port at Teesside. Once a key steelmaking region, it’s fallen on hard times as plants closed. Some locals are set to benefit from mineral rights, while others have bought shares in the company.Sirius, backed by Australian billionaire Gina Rinehart, plans to extract polyhalite from a mine more than a mile deep. One of the shafts is already more than 100 meters deep, with 1,200 staff and contractors on site.So far, the company has spent about $1.5 billion, including building a plant to make concrete supports for the tunnel. Once in production, Sirius planned to employ about 1,000 people and export $2.5 billion in potash each year.For Anglo it adds a major potash resource as the company looks to retreat from thermal coal.“We are unashamedly transitioning our portfolio to later cycle products that we believe the world will need as it goes forward,” Chief Financial Officer Stephen Pearce said on a call with reporters.Strategic MoveThe miner has been cutting thermal coal production in recent years, with output falling from as much as 80 million tons to less than 30 million tons. In recent months, it has been hinting that it will look to move away from the dirtiest fuel altogether.It also further separates Anglo from its larger diversified rivals. The company is already in the process of building a $5 billion copper mine in Peru, albeit with a Japanese partner to cut the cost and risk. While the company has also been returning money to shareholders, it’s been more measured than Rio Tinto Group and BHP Group.“We fundamentally believe part of our responsibility is to keep an eye on growth over all the aspects of different time frames,” said Pearce. He said the company doesn’t expect the deal to change its dividend policy.It also marks a return for Anglo both to fertilizer and the U.K. The company sold its phosphates business in Brazil in 2016 as it looked to weather a crisis. It exited the U.K. before that, when it sold its Tarmac business.Sirius said on Wednesday that, subject to the successful outcome of talks, it has indicated to Anglo that it expects to recommend a firm offer at the price set out in the proposal.Anglo said it reserves the right to reduce any offer by the amount of any dividend or other distribution by Sirius. Under U.K. takeover rules, the company has until Feb. 5 to announced a firm intention to make an offer.Bank of America Corp. and Centerview Partners U.K. LLP are the joint financial advisers to Anglo, while JPMorgan is advising Sirius.(Updates with bonds in sixth paragraph)To contact the reporter on this story: Thomas Biesheuvel in London at tbiesheuvel@bloomberg.netTo contact the editors responsible for this story: Lynn Thomasson at lthomasson@bloomberg.net, Dylan Griffiths, Nicholas LarkinFor more articles like this, please visit us at bloomberg.com©2020 Bloomberg L.P.

  • Barrons.com

    Anglo American Slips as Mining Giant Mulls Bid for Struggling Sirius Minerals

    Anglo American stock slid on Wednesday as the mining giant said it was considering a £386 million bid to buy struggling fertilizer miner Sirius Minerals.

  • Barrons.com

    Four U.K. Stocks to Consider Now that Brexit Deadlock Has Been Broken

    Now that there is some clarity over Brexit, companies heavily exposed to the British economy look undervalued

  • Shareholders Are Loving Anglo American plc's (LON:AAL) 3.5% Yield
    Simply Wall St.

    Shareholders Are Loving Anglo American plc's (LON:AAL) 3.5% Yield

    Could Anglo American plc (LON:AAL) be an attractive dividend share to own for the long haul? Investors are often drawn...

  • Moody's

    Anglo American SA Finance Limited -- Moody's announces completion of a periodic review of ratings of Anglo American plc

    Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Anglo American plc and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers. This publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future.

  • Is Anglo American plc's (LON:AAL) P/E Ratio Really That Good?
    Simply Wall St.

    Is Anglo American plc's (LON:AAL) P/E Ratio Really That Good?

    This article is for investors who would like to improve their understanding of price to earnings ratios (P/E ratios...

  • Reuters

    UPDATE 5-South African mines grind to halt as floods deepen power crisis

    Mines across South Africa shut down on Tuesday after flash flooding triggered the most severe power blackouts in more than a decade, threatening a key export sector in a further blow to the country's already slowing economy. Heavy rains across parts of South Africa have submerged entire neighbourhoods, leading to evacuations and aggravating problems at state-owned utility Eskom, which has been struggling to keep the lights on since 2008. Harmony Gold, Impala Platinum and Sibanye-Stillwater all said they had been forced to cut production since Monday because of power shortages.

  • Benzinga

    14 Most Shorted European Stocks

    European stocks have severely lagged U.S. stocks over the past year. In that stretch, the iShares MSCI EMU Index (BATS: EZU ) is up just 6%, while the SPDR S&P 500 ETF Trust (NYSE: SPY ) is up 50.9%. Eurozone ...

  • Moody's

    Anglo American SA Finance Limited -- Moody's affirms Anglo American's Baa2 ratings with stable outlook

    Rating Action: Moody's affirms Anglo American's Baa2 ratings with stable outlook. Global Credit Research- 05 Nov 2019. London, 05 November 2019-- Moody's Investors Service has today affirmed the Baa2 long ...

  • Reuters

    UPDATE 2-Massive mining waste dams could pose deadly risks, say investors

    A global inquiry into how mining companies store billions of tonnes of waste in huge dams, launched after a collapse in Brazil killed hundreds, shows about a tenth of the structures have had stability issues, investors said on Thursday. The research was led by the Church of England (CoE) and fund managers after the collapse of a Vale dam in January unleashed an avalanche of mining waste on the Brazilian town of Brumadinho, killing an estimated 300 people. The investor review, which found at least 166 dams have had stability issues in the past, relied on companies' disclosures about their dams holding mining waste, known as tailings.

  • Did Anglo American plc (LON:AAL) Use Debt To Deliver Its ROE Of 17%?
    Simply Wall St.

    Did Anglo American plc (LON:AAL) Use Debt To Deliver Its ROE Of 17%?

    Many investors are still learning about the various metrics that can be useful when analysing a stock. This article is...

  • Reuters

    UPDATE 3-Chile's Codelco resumes operations after union calls for end to strike

    Chile's Codelco, the world's top copper miner, said it had resumed normal operations after its unionized workers struck a deal with government officials late Wednesday to end a day-long walk-off amid a week of raucous protests throughout Chile. The Copper Workers Federation (FTC), which includes unionized workers from each of Codelco's divisions, had joined a nation-wide strike of state workers in a show of support for protesters' demands for action to tackle inequality in Chile.

  • Investing.com

    Premarket London: Whitbread Warns on U.K. Outlook, Upbeat on Germany

    Investing.com -- Here's a summary of this morning's big releases on the London Stock Exchange. Please refresh for updates.

  • How Much is Anglo American plc's (LON:AAL) CEO Getting Paid?
    Simply Wall St.

    How Much is Anglo American plc's (LON:AAL) CEO Getting Paid?

    Mark Cutifani became the CEO of Anglo American plc (LON:AAL) in 2013. First, this article will compare CEO...

  • Moody's

    Prumo Particip. e Invest. S.A. - (Prumo Par) -- Moody's assigns Ba2 rating to PrumoPar's USD350 million senior secured notes; outlook stable

    Moody's Investors Service ("Moody's") has assigned a Ba2 global scale rating to Prumo Participações e Investimentos S.A. (Prumo Par)'s ("PrumoPar") USD350 million senior secured notes due in December 2037. The Ba2 rating assigned to PrumoPar's senior secured notes reflects Moody's views of the Ferroport Logístical Comercial Exportadora S.A.'s ("Ferroport" or the "Project") revenue profile, as established by the long term (25 years) take or pay contract between Ferroport and Anglo Brazil, which has no volume risk associated with iron ore production or shipment. The priority of use of the Ferroport Project is assigned to Anglo American´s Minas-Rio iron ore project through a take-or-pay contract for receiving, storing, handling, loading and shipping iron ore with Anglo Brazil until 2039.

  • Did You Miss Anglo American's (LON:AAL) Impressive 101% Share Price Gain?
    Simply Wall St.

    Did You Miss Anglo American's (LON:AAL) Impressive 101% Share Price Gain?

    Anglo American plc (LON:AAL) shareholders might be concerned after seeing the share price drop 16% in the last...