viewAnglo American PLC

Anglo American and Glencore are top picks for Citi ahead of production updates from mining majors

Citigroup sees no significant change to full-year guidance from the largest mining companies

Anglo American PLC -

Anglo American PLC (LON:AAL) and Glencore PLC (LON:GLEN) are the top picks for Citi ahead of a plethora of second-quarter production figures from the mining majors.

“Our estimates imply aggregate iron ore volumes could increase by 8% q/q, partially helped by seasonally softer volumes in Q1,” said the investment bank in a production preview on the sector.

“Copper volumes are expected to be flat q/q and point to stable operational performance across companies. We expect a slight increase in coal volumes, but remaining below pre-pandemic levels.

“Overall, our expectation of broadly stable operations implies no significant change to the full-year guidance.

“A rally in commodity prices is likely trigger solid cash flows, which could be a key catalyst for corporate management to look at cash returns at interim financial results,” Citi analysts said.

Earlier this week, analysts at UBS said they expect BHP PLC (LON:BHP), Rio Tinto PLC (LON:RIO), Fortescue Metals Group Ltd (ASX:FMG), Anglo American and Glencore to announce the return of about US$26bn to shareholders alongside their June-2021 results.

READ: BHP and Anglo American expected to positively surprise with dividend payouts, says UBS

Quick facts: Anglo American PLC


Price: 2591 GBX

Market Cap: £35.2 billion

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...


Hochschild Mining reveals 'profitable' PEA on its heavy rare earths project...

Hochschild Mining Head of Investor Relations Charles Gordon joined Proactive New York to discuss the Peru-based gold and silver miner's recent developments within its heavy rare earths project, recently renamed Aclara. Gordon says the group recently revealed a preliminary economic assessment...

15 hours ago

2 min read