|Bid||1,550.00 x 45000|
|Ask||1,810.00 x 65000|
|Day's Range||1,766.00 - 1,814.80|
|52 Week Range||950.10 - 1,814.80|
|PE Ratio (TTM)||7.30|
|Forward Dividend & Yield||0.40 (2.03%)|
|1y Target Est||23.77|
Buoyed by booming commodity prices and lower costs, Anglo American doubled its net profit for 2017, slashed debt and said it would pay its highest dividend in a decade.
Anglo American (AAL.L) said on Thursday annual earnings rose 45 percent and net debt halved as the miner rebounded from a commodities slump and said it had become a fundamentally different business focused on productivity. All the major miners have reported a recovery from the 2015-16 crash in commodities prices, announcing increased returns for shareholders and lower debt, while promising to avoid the spending sprees that piled on supplies and helped to end the last boom. Anglo American and Glencore (GLEN.L), which on Wednesday said its results were the strongest yet, saw their shares fall the furthest in the downturn and have rallied the most as commodity markets have recovered.
Just two years ago, Anglo American Plc wanted to get out of iron ore and coal. Today they’re the mining giant’s cash machines.
Disappointing results, big stocks going ex-dividend and concerns over rising bond yields hit Britain's top share index on Thursday, pulling it to a one-week low. Britain's blue chip FTSE 100 (.FTSE) index had declined 1 percent to 7,210.67 points by 1001 GMT, while mid caps (.FTMC) fell 0.7 percent. Shares in British American Tobacco (BATS.L) were the biggest fallers, down 4.5 percent after the cigarette maker reported weaker-than-expected sales growth for 2017.
Anglo American Plc raised its dividend and cut debt even further as the company that was pushed to the brink by falling metals prices roars back to life.
Southern Copper Corp won a tender to develop Peru's estimated $2 billion Michiquillay copper mine in an auction that attracted just two bidders, the government's Proinversion investment agency said on Tuesday. Southern, controlled by Grupo Mexico SAB de CV , won with a proposal to transfer $400 million to the government and pay 3 percent royalties, beating out Compania Minera Milpo, which had offered $250 million in transfers and 1.875 percent royalties. Peru is the world's second biggest copper producer after Chile.
Peru will accept bids and award a contract to develop the estimated $2 billion Michiquillay copper mine on Tuesday in the first major auction from the world's No. 2 copper producer in at least a decade. The auction was delayed twice last year, in part due to political turmoil in Peru. The bids will be a gauge of investor confidence in President Pedro Pablo Kuczynski, a former Wall Street banker who was nearly impeached in December.
Colombia, the world's fifth-largest exporter of coal, produced 89.4 million tonnes in 2017, down 1.2 percent from output the year before, the Energy and Mining Ministry said in a statement on Monday. The ...
Anglo American Platinum (Amplats) (AMSJ.J), the world's top platinum producer, announced its first dividend in seven years on Monday as full-year headline earnings more than doubled and said it was not committing capital to major projects in 2018. Amplats' investment stance highlights the fragile state of platinum mining in South Africa, home to around two-thirds of known reserves, where for years the industry has battled soaring costs, depressed prices, policy uncertainty and bouts of violent labour and social unrest. South Africa's Chamber of Mines said on Sunday it had agreed to postpone a court challenge against a new version of an industry charter, which among other things raises targets for black ownership, to allow for talks with newly sworn-in South African President Cyril Ramaphosa.
Investors are shunning the mining sector, data from Thomson Reuters shows, as they struggle to forget the string of multi-billion dollar takeovers and expensive development projects that left them empty handed. The mining sector led the FTSE higher in 2016 as it rebounded from the previous year's deep price crash, but it is still well below levels seen in 2011.
TORONTO/MELBOURNE (Reuters) - As shareholders push the world's cash-rich miners to maintain lush dividends and make the most of existing assets, Glencore is taking a slightly different tactic that positions it for shrewd acquisitions. Like other big rivals, Glencore is expected to lift its dividend payout when it reports results next week, but the Swiss miner and trader is also "open for business" when it comes to buying mines or companies, its chief financial officer said in December. "Glencore's deal-making is now very strategic.
By Kit Rees LONDON (Reuters) - A rally in miners and stocks exposed to South Africa helped Britain's top share index close higher for a second day in a row on Thursday, stabilising after last week's hefty ...
By Helen Reid LONDON (Reuters) - European stocks rose for a second day on Thursday as investors brushed off a spike in U.S. inflation, turning their focus back to company earnings from heavy hitters including ...
Japan's trading houses are scouting for assets as they enjoy their best profit outlook in six years, driven by higher prices for commodities from metals and coking coal to oil and natural gas. Equipped with a nearly $50 billion (£35.67 billion) war chest, trading houses are looking to bolster their global commodity supply chain networks, eyeing gas fields in Australia, oil in Iraq and coal and copper assets. "We want to be in the driving seat in investments.
By Kit Rees and Helen Reid LONDON (Reuters) - A recovery among commodities stocks helped Britain's top share index outperform European peers on Tuesday, though it came under pressure from a firmer pound ...
The FTSE 100 was up 1.2 percent at 7,177.06 points at its close, regaining some of last week's losses but still near a 13-month low. Energy, materials and financials gave the index its biggest boost as the cyclical stocks that had suffered the worst losses last week led the gains. Oil majors Royal Dutch Shell (RDSa.L) and BP (BP.L) both rose around 2 percent, as crude prices also recovered from last week's declines.
Namdeb, a 50/50 joint venture between the Namibian government and Anglo American's (AAL.L) diamond unit De Beers, has put the Elizabeth Bay Mine up for sale, a company spokeswoman said on Friday. The sale comes three weeks after the diamond miner wrote to staff offering voluntary redundancies that will affect at least 130 of its 1,700-strong workforce. "Following a recent review, it was concluded that the best way to secure a longer future for the mine, beyond the current projected 2019 life, is to find a more suitable operator," spokeswoman Pauline Thomas said in a statement.
Copper bulls who are betting on labour strife this year due to a full calendar of contract talks may be disappointed if early wage deals at two copper mines are a signpost for further agreements with mine workers. Benchmark copper prices rallied 12 percent in December, partly due to fear of shortages if workers go on strike since many major operations in top producers Chile and Peru have contacts expiring this year, including at top mine Escondida. Chile's state-owned Codelco said late last month it had struck a contract deal with workers at its Andina copper mine, while workers at the Lomas Bayas mine accepted a contract offer from operator Glencore Plc (GLEN.L) early in January.
Israel's diamond exchange is turning to digital currencies to inject new life into a marketplace long ruled by cash and backroom handshakes, but it must first persuade traditionally conservative players that the technology can work. One of the world's largest diamond centres, the exchange hopes its virtual currency will make trading more efficient and less opaque. Current transactions are "often carried out anonymously, with the shake of a hand and minimal documentation", according to a recent report by Israel's Justice Ministry.
Israel's diamond exchange is turning to digital currencies to inject new life into a marketplace long ruled by cash and backroom handshakes, but it must first persuade traditionally conservative players that the technology can work. One of the world's largest diamond centers, the exchange hopes its virtual currency will make trading more efficient and less opaque.
Africa's mining industry should be poised on the verge of great things, but instead it appears to be seeking a reset button as miners continue to clash with governments over how best to exploit the continent's resources. Africa is home to large reserves of the metals essential to the battery revolution, such as cobalt and copper, and it is also rich in gold, iron ore, high-quality coal and uranium, to name a few. Of course, not every country in Africa is experiencing problems with its mining sector.
Almost 130 years after diamond giant De Beers emerged from mines around the dusty South African town of Kimberley, the company is going back to its roots with a clutch of exploration permits to prospect for gem deposits near the place of its birth. South Africa is hardly virgin territory for mineral exploration: over a third of the gold ever produced in history has been extracted from beneath its soil, and industrial-scale diamond mining goes back over a century.