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Pin to quick picksAnglo American Share News (AAL)

Share Price Information for Anglo American (AAL)

London Stock Exchange
Share Price is delayed by 15 minutes
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Share Price: 2,616.00
Bid: 2,615.00
Ask: 2,616.50
Change: 1.00 (0.04%)
Spread: 1.50 (0.057%)
Open: 2,633.00
High: 2,635.00
Low: 2,616.00
Prev. Close: 2,615.00
AAL Live PriceLast checked at -

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Jefferies expects solid recovery at Anglo American

Mon, 26th Feb 2024 08:40

(Sharecast News) - Anglo American investors just need a little more patience, according to analysts at Jefferies who reiterated their 'buy' rating on the mining company ahead of what it sees as an inevitable recovery in the share price.

The broker claimed that negatives are mostly priced into the stock and that consensus expectations "seem too negative", and said that the company "is at a turning point now".

Jefferies said it expects "significant relative outperformance for Anglo's shares over the course of this year and beyond", as it kept a 2,500p target price, indicating around 40% upside from current prices.

Anglo's share price tumbled around 40% over the course of 2023 after a tough year, as the miner cut production guidance due to operating issues and had to deal with weakness in the diamond and platinum group metals (PGM) markets. Free cash flow was also negative and the ongoing heavy investment into the Woodsmith polyhalite fertiliser mine is "unhelpful", Jefferies said.

Nevertheless, the broker said: "The path to recovery for Anglo after a difficult 2023 includes meeting recently rebased guidance, pursuing portfolio strategies to unlock value, and benefiting from: 1) increased exposure to copper (nearly 40% of Anglo's NPV), 2) cyclical upside in diamonds and PGMs, and 3) ongoing strength in iron ore and met coal prices.

"The Anglo recovery will take time to fully play out. But it is coming, in our view."

Jefferies added that, even if Anglo is unable to improve operationally over the coming year, "then we see a risk that an activist gets involved or another miner approaches it for a merger". The broker said: "Anglo has a portfolio of world-class assets with operational upside. The value of these assets is not fully reflected in its current share price, based on our analysis."

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14 May 2024 09:55

Anglo CEO says BHP bid forced his hand on demerger of S.Africa assets

JOHANNESBURG, May 14 (Reuters) - The boss of Anglo American said on Tuesday a bid by rival BHP to take over the company forced him to accelerate plans for a spin-off of its South Africa's platinum assets, a move set to cause concerns in Pretoria weeks before a national election.

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14 May 2024 09:49

Anglo shareholder welcomes proposed strategic revamp

LONDON, May 14 (Reuters) - Anglo American shareholder Aegon Asset Management said on Tuesday it welcomed a proposed strategy revamp at the London-listed mining firm, as it tries to fend off a takeover bid from the world's largest miner BHP Group.

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14 May 2024 09:23

South African rand lower ahead of mining and unemployment data

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14 May 2024 09:02

TOP NEWS: Anglo American unveils most "radical" strategy in decades

(Alliance News) - Anglo American PLC on Tuesday unveiled a new "radical" strategy that will see it keep copper and iron ore assets, while getting rid of platinum and diamond businesses.

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14 May 2024 08:33

Amplats shares fall 10% as Anglo American eyes demerger

JOHANNESBURG, May 14 (Reuters) - Anglo American Platinum's Johannesburg-listed shares traded down around 10% in early trade on Tuesday, after parent company Anglo American said in a strategic review that it was exploring a demerger of its troubled platinum unit.

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14 May 2024 07:21

Anglo unveils radical shake-up to simplify portfolio, cut costs

(Sharecast News) - Anglo American has announced a "major new phase" in its strategy as it makes radical changes to its business structure to drive shareholder returns and save costs, including the divestment or spin-off of its steelmaking coal, nickel, platinum and diamond operations.

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13 May 2024 17:50

Anglo American rejects BHP's revised $42.7 billion buyout proposal

Had rejected a previous $39 billion all-share proposal in April

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13 May 2024 16:55

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13 May 2024 15:20

UPDATE: Anglo American says new BHP bid undervalues future prospects

(Alliance News) - Anglo American PLC on Monday said the latest bid proposal from mining peer BHP Group Ltd continues to "significantly undervalue" it and its "future prospects."

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13 May 2024 13:47

Anglo American rejects second, £34bn takeover offer from BHP

(Sharecast News) - BHP said on Monday that Anglo American has rejected a revised offer from the Australian miner which valued the company at £34bn.

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13 May 2024 13:46

TOP NEWS: BHP confirms Anglo American rejects improved takeover offer

(Alliance News) - BHP Group Ltd on Monday confirmed that made an improved offer to buy mining peer Anglo American PLC last week, but said the offer was rejected by the Anglo board on Monday.

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