Anglo Posts First Profit Increase in 5 Years on Metals Comeback

Anglo American PLC (LON:AAL) had its stock price target increased to 1,185.00GBX by Deutsche Bank in a report announced Monday February 20, 2017.

As of 14:27 GMT, Anglo American's share price had lost 1.10 percent to 1,345.00p as of 14:28 GMT, underperforming the broader London market, with the benchmark FTSE 100 index having slipped marginally lower and now standing 0.23 percent in the red at 7,282.78 points.

Liberum Capital today set a target price of 750 on the company's stock.

There are now 1,290,000,000 shares in issue with a current share value of 1376 giving Anglo American PLC a market capitalisation of 17.75B GBp. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company's stock. The group's dividend meanwhile remains suspended with the company hoping to restore payments for the end of the current year.

Anglo American PLC (LON:AAL) has a 50 day moving average of 1309.5 and a 200 day moving average of 1096.9. The 52 week high Anglo American PLC's shares have reached is 1529.01 whilst the 52 week low for the company's shares is 399.85.

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In other Anglo American plc news, insider Philip R. Hampton purchased 807 shares of Anglo American plc stock in a transaction on Thursday, December 22nd.

Anglo says its net debt fell to $8.5B by year-end from $12.9B at the end of 2015, helped by higher commodity prices and asset sales; Cutifani says Anglo does not expect to sell any more operations to fix the company's balance sheet, but remains open to offers, especially for some of its South African coal businesses.

Analysts said the results beat expectations, but Anglo's shares had slipped 1.5 percent by 1415 GMT, more than the overall mining sector.FTNMX1770, which was down 0.4 percent. It produces platinum group metals (PGMs), which provides approximately 40% of mined platinum and its operations are located in the Bushveld Complex in South Africa.

  • Zachary Reyes