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Anglo American plc
AAUKFBasic MaterialsOTCGB
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Deutsche Bank has lifted its price target on Anglo American PLC (LSE:AAL) from 3800p to 4500p and maintained its buy rating after launching an integrated model combining the mining group with Teck Resources following their merger. The bank's analysis concludes the combined entity will, on completion, create the world's premier listed copper company, with deal closure assumed at the end of 2026.
The sale of Anglo American's remaining steelmaking coal assets would complete a planned exit months after Peabody Energy withdrew from a similar deal.
Anglo American PLC (LSE:AAL) has agreed to sell its Australian steelmaking coal business for up to US$3.875 billion (£2.9 billion) in cash as the miner continues to simplify its portfolio ahead of its planned merger with Canada's Teck. The sale to privately held UK company Dhilmar Ltd includes an upfront cash payment of US$2.3 billion on completion and a price-linked earnout worth up to US$1.575 billion over five years.
Shares in heavyweight miners, including Anglo American PLC (LSE:AAL) and Fresnillo PLC (LSE:FRES), topped the FTSE 350 leaderboard on Wednesday as metals prices rose on hopes of easing tensions in the Middle East. The moves followed gains in metals prices, with gold up 2.6%, silver rising 4.6% and copper gaining 2.0%, while oil prices fell by a similar amount.
Anglo American delivered a solid Q1, with copper and iron ore production both exceeding Wall Street expectations, and guidance reaffirmed for 2026. Ongoing restructuring, asset disposals, and progress on the Teck transaction continue to simplify AAUKF's portfolio toward a copper-focused profile, with potential catalysts from divestments and regulatory approvals. Tight copper supply and structural demand (energy transition, AI, defense) underpin a constructive outlook, with SOTP valuation implying ~23% upside.
The London-listed miner said it dug out 170,000 metric tons of copper in the first quarter, a 1% rise on the same period a year prior.
Anglo American PLC (LSE:AAL), the FTSE 100 diversified miner, kept its full-year production and cost guidance unchanged across its core copper and premium iron ore divisions after a first quarter it described as tracking well to plan. Its transformational merger with Canadian miner Teck Resources on course to close between September 2026 and March 2027.
The undisclosed stake in Barrick's Fourmile gold project could add up to $3 billion in value to a combined Anglo-Teck group A previously undisclosed royalty held by Teck Resources on Barrick Mining's Fourmile gold project in Nevada has strengthened the case for Anglo American PLC's (LSE:AAL) proposed merger with the Canadian miner, according to Citigroup analysts. The Globe and Mail reported this week that Teck owns a 10% net profits interest on Fourmile, a project Barrick has described as one of the most significant gold discoveries of the century, with the royalty rising to 15% once six million ounces of gold are produced.
Big-cap miners fell sharply on Monday as a strengthening US dollar and risk-off sentiment triggered by the Iran conflict weighed on industrial metals Shares in major London-listed mining companies fell sharply on Monday, with Anglo American PLC (LSE:AAL) and Anglo American PLC (LSE:AAL)among the hardest hit as a surging US dollar and a slump in copper prices rattled investors. Anglo, the FTSE 100 diversified miner, fell 5.7%, while Antofagasta, the Chilean copper producer, dropped 5.5% in early trading.
