Streetbeat News

NGLOY

Anglo American plc

http://www.angloamerican.com/

CEO

Mark Cutifani

Industry

Iron Ore Mining

Open

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Copper prices have surged to near two-year highs of $10,000 per metric ton, with expectations of reaching $12,000 by 2026 due to increased demand from electric vehicles, power infrastructure, and technology sectors. Trafigura predicts a 10 million metric ton increase in copper consumption over the next decade. Citibank and Bank of America are bullish, citing potential supply deficits. However, Citic Metal Co. warns of weak demand from fabricators. Anglo American (NGLOY) reports an 11% increase in copper output, attributing it to high throughput at its Quellaveco mine, despite planning to cut capex and production in the coming years.

Portfolio Pulse from Stjepan Kalinic

April 23, 2024 | 8:24 pm

Copper prices have been rising, signaling optimism about the global economy, particularly with expectations of China's economic recovery. Supply disruptions and lower mine output have contributed to the price increase, with futures hitting an 11-month high. Companies like First Quantum Minerals, Anglo American, Teck Resources, and Southern Copper Corp. have reduced production outlooks. Analysts predict copper prices could reach $10,000 per metric ton by year-end, benefiting miners like Freeport-McMoRan Inc. and ETFs focused on copper mining.

Portfolio Pulse from Matt Whittaker

April 04, 2024 | 12:57 pm

Artificial intelligence (AI) is driving a surge in global copper demand, impacting stocks like Nvidia Corp (NASDAQ:NVDA) and boosting the prospects of copper mining companies. Analyst Dominic O'Kane from JPMorgan highlights the growing need for copper in AI applications, particularly in datacenters, and identifies top copper stock picks: Anglo American PLC (OTCQX:AAUKF) (OTCQX:NGLOY), Teck-Resources Ltd. (NYSE:TECK), and Sandfire Resources Ltd (OTCPK: SFRRF). These companies are well-positioned to benefit from the increased demand for copper, driven by AI's expansion.

Portfolio Pulse from Surbhi Jain

March 28, 2024 | 2:48 pm

Anglo American (OTC:NGLOY) is considered a potential bargain by Barron's due to rising copper prices and a comprehensive portfolio review. Despite underperforming against competitors like BHP Group Ltd (NYSE:BHP), Rio Tinto (NYSE:RIO), and Glencore ADR (OTC:GLNCY) due to operational issues and market slumps in diamonds and platinum-group metals, Anglo American's focus on copper and potential strategic moves, including asset spin-offs or partnerships, could enhance its value. Analysts see the company's copper business and market recoveries as key drivers for improvement, with external factors like China's demand and green energy transitions supporting copper prices.

Portfolio Pulse from Matt Whittaker

March 25, 2024 | 9:55 pm

Patricia Mohr, a commodities expert, predicts a surge in prices for copper, uranium, and lithium due to the green energy transition. Copper and uranium are seen as critical for decarbonization and clean energy, respectively, with copper facing operational challenges and uranium prices already on the rise. Lithium prices have fallen but are expected to recover as electric vehicle demand increases. The United States Copper Index Fund (CPER), Global X Copper Miners ETF (COPX), and Global X Uranium ETF (URA) are highlighted as related investment assets.

Portfolio Pulse from Neil Dennis

March 24, 2024 | 5:02 pm

The nickel industry is facing a prolonged period of oversupply, leading to production cutbacks by major miners like Nornickel, BHP Group, Glencore, and Vale in response to falling prices and high operating costs. These cutbacks are aimed at supporting market prices and managing costs amid weak demand from the stainless steel and EV sectors. Several companies have recorded significant impairment charges, and some are considering operational adjustments to navigate the challenging market conditions.

Portfolio Pulse from Matt Whittaker

February 26, 2024 | 6:32 pm

European stocks rallied following the European Central Bank's (ECB) announcement of a potential end to its interest rate hiking cycle. The ECB also revised down its estimates for inflation and growth. This news led to a surge in European indices, including the Euro Stoxx 50, UK FTSE 100, Italy's FTSE MIB, French CAC 40, and Germany DAX 30. Positive economic news from the US and China further boosted European stocks, particularly in the luxury and banking sectors.

Portfolio Pulse from Piero Cingari

September 14, 2023 | 4:50 pm

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