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NGLOY - Anglo American: Positive Q1 Production Results
Anglo American Plc ADR
2024-04-25 00:14:22 ET
Summary
Following First Quantum’s mine closure, the market has 4 million tonnes less copper capacity. This is coupled with growing demand.
Anglo American is fully benefitting from Quellaveco mine expansion. Q1 copper production was up by 11%.
Solid balance sheet, CAPEX flexibility, and attractive valuation make the company a solid buy.
Following our last update, " Too Cheap To Ignore ," and an expectation reset in early December 2023, Anglo American ([[AAUKF]], [[NGLOY]]) reported its FY 2023 results and the just-released Q1 production report....