NGLOY - Anglo American: Too Cheap To Ignore

2024-02-12 01:44:27 ET

Summary

• Anglo American's Q4 2023 production was aligned with recent guidance. This provides future stability.
• The company's risk/reward is attractive due to underperformance, potential upside in copper prices, and the Woodsmith polyhalite project.
• Anglo American offers downside protection on CAPEX flexibility, expected savings, and a generous payout.

Following Anglo American ( OTCQX:NGLOY ) ( OTCQX:AAUKF ) reset expectations in early December 2023, the company's Q4 2023 realized commodity prices and operating performances align with previously communicated guidance. We can conclude that " No news is good news. " That said, Anglo is one of the largest diversified mining companies worldwide. It is headquartered in London and listed in ISE as well as in the FTSE. Anglo American's leading commodities are iron ore and copper. Our team believes the company's risk/reward is extremely attractive....

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