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Anglo American PLC - Stock Quote AAL

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Morningstar's Anglo American PLC Stock Analysis

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FVEs for Anglo American, BHP, and Glencore Modestly Reduced as Queensland Hikes Coal Royalty Rates

Mathew Hodge, CFA Regional Director

Analyst Note

| Mathew Hodge, CFA |

We modestly reduce our fair value estimates for coal miners operating in Queensland after the state imposed higher royalties on coal sales. Of our coverage, no-moat Anglo American is the most affected, and we reduce our fair value estimate to GBX 3,200 per share from GBX 3,350. We also lower our fair value estimates for no-moat BHP to AUD 38.00 per share, from AUD 38.50, and for no-moat Glencore to GBX 570 per share, down from GBX 580. However, we maintain our fair value estimates for no-moat New Hope and Whitehaven Coal of AUD 4.00 per share and AUD 5.20 per share, respectively.

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Anglo American PLC's Company Profile

Business Description

Anglo American's mining portfolio spans many commodities and continents. Like fellow large diversified miners, Anglo has significant exposure to copper, coal, and iron ore, but it is unique in its significant platinum output. The company accounts for about one third of the world’s platinum supply and just over 20% of palladium supply. Anglo also owns 85% of De Beers, in most years the world's largest supplier and marketer of rough gem diamonds.

17 Charterhouse Street
London, EC1N 6RA, United Kingdom
T +44 2079688888
Industry Other Industrial Metals & Mining
Most Recent Earnings
Fiscal Year End Dec 31, 2022
Stock Type
Employees 63,750