Editor’s Note: Related tickers: Deutsche Bank AG (NYSE:DB), Credit Suisse Group AG (NYSE:CS), Bank of America Corp (NYSE:BAC), Morgan Stanley (NYSE:MS), Prudential plc (LON:PRU), Rio Tinto plc (LON:RIO), Antofagasta plc (LON:ANTO), Anglo American plc (LON:AAL), MAN GROUP PLC ORD USD0.03428571 (LON:EMG), Anglo American Platinum Ltd(ADR) (OTCMKTS:AGPPY)
Anglo American Platinum to Scale Back S African Job Cuts (4-Traders)
Anglo American plc (LON:AAL) platinum arm is expected to scale back plans to cut 14,000 mining jobs in South Africa as its restructuring plans come under pressure from the government, Reuters reported Thursday. Anglo American Platinum Ltd(ADR) (OTCMKTS:AGPPY), which is majority-owned by U.K.-listed miner Anglo American plc (LON:AAL), announced in January plans to cut annual production and mothball two of its mines in Rustenburg, putting 14,000 jobs at risk. The announcement sparked a backlash from the government and ruling African National Congress. Party members accused Anglo American Platinum, the world’s largest platinum producer, of not being committed to mining in South Africa.
Anglo American’s Hold Rating Reaffirmed at Liberum Capital (AAL) (UtahPeoplesPost)
Anglo American plc (LON:AAL)’s stock had its “hold” rating reiterated by investment analysts at Liberum Capital in a note issued to investors on Friday, ARN reports. Anglo American plc (LON:AAL) traded up 4.30% on Friday, hitting GBX 1635.50. Anglo American has a 52-week low of GBX 1540.00 and a 52-week high of GBX 2399.50. The stock’s 50-day moving average is currently GBX 1907.. The company’s market cap is £20.852 billion.
Antofagasta plc’s “Hold” Rating Reaffirmed at Fox-Davies Capital (ANFGY) (Zolmax)
Fox-Davies Capital reaffirmed their hold rating on shares of Antofagasta plc (LON:ANTO) in a report issued on Wednesday, Analyst Ratings.Net reports. Antofagasta plc (LON:ANTO) traded up 7.60% on Wednesday, hitting $30.43. Antofagasta plc has a 1-year low of $26.65 and a 1-year high of $45.31. The stock’s 50-day moving average is currently $30.5. The company has a market cap of $15.000 billion and a price-to-earnings ratio of 13.51. …Antofagasta plc (LON:ANTO), is a Chile-based copper mining company with interests in transport and water distribution.
Antofagasta Given Underweight Rating at Morgan Stanley (ANTO) (UtahPeoplesPost)
Morgan Stanley (NYSE:MS) reiterated their underweight rating on shares of Antofagasta plc (LON:ANTO) in a research report sent to investors on Wednesday morning, Stock Ratings Network.com reports. The firm currently has a GBX 880 ($13.63) price target on the stock. Several other analysts have also recently commented on the stock. Analysts at Canaccord Genuity reiterated a hold rating on shares of Antofagasta plc (LON:ANTO) in a research note to investors on Wednesday.
Australia’s Biggest Coal Port Faces Industrial Action (FoxBusiness)
Rio Tinto plc (LON:RIO) and Glencore Xstrata PLC (LON:GLEN) are major shareholders in PWCS, which exports coal mostly to Japan and China. The terminal handles more than 105 million metric tons of coal annually at its facilities in the city of Newcastle in Australia’s New South Wales state. Both companies use the terminal for their coal exports. The Maritime Union of Australia, the Transport Workers Union, the Electrical Trade Union, and the Australian Manufacturing Workers Union said in a joint statement that talks with PWCS had reached an impasse after more than eight months, and that workers had voted in favor of industrial action.
Rio Tinto plc Receives Buy Rating from Liberum Capital (RTP) (MideastTime)
Rio Tinto plc (LON:RIO)’s stock had its “buy” rating reaffirmed by Liberum Capital in a research note issued on Friday, Stock Ratings Network reports. RTP has been the subject of a number of other recent research reports. Analysts at Jefferies Group reiterated a “buy” rating on shares of Rio Tinto plc (LON:RIO) in a research note to investors on Thursday. Separately, analysts at Deutsche Bank AG (NYSE:DB) reiterated a “buy” rating on shares of Rio Tinto plc (LON:RIO) in a research note to investors on Thursday. Finally, analysts at Nomura reiterated a “buy” rating on shares of Rio Tinto plc (LON:RIO) in a research note to investors on Tuesday.
