AngloAmerican Plc : Q4 production prints on the high side
>Good Q1 production numbers - Anglo American (Neutral) has just released a strong Q4 production report which comes in at +4% on a copper equivalent basis (in line with Q3: +4% y-o-y) driven by the continued successful ramp-up at Minas-Rio in Brazil. At De Beers (13% of H1 2019 EBITDA), rough diamond production decreased by 15% y-o-y (up 5% q-o-q) to 7.8m carats, driven by lower production levels in South Africa and Botswana. We note however that trading conditions hav...Anglo American is a global mining company with a portfolio of mining operations and undeveloped resources. Co. is focused on diamonds, copper, platinum group metals (PGMs), and bulk commodities and other minerals. Co.'s segments include: De Beers, which produces rough and polished diamonds; Copper, which produces copper; Platinum, which produces PGMs; Iron Ore and Manganese, which produces iron ore, manganese ore and alloys; Coal, which produces metallurgical coal and thermal coal; and Nickel, which produces nickel.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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