Anglo American expects earnings to decrease by 20%
The world’s largest producer of platinum, Anglo American (LON:AAL), says it will be reporting a 20% earnings decline when it reports its next six-month period.
“The expected decrease in earnings is primarily as a result of lower sales volumes and lower metal prices achieved compared to the comparative period,” said the company in a statement.
The company has lost 10.93% since the start of the year and closed at GBP2,117.50 (CAN$3,382.01). The company’s 52-week low is GBP1,912 and high is GBP3,218.
In the last three months, spot platinum has dropped 11.25% and is currently trading at US$1,451/oz.