Company announcements

Anglo American Platinum

Analysis of upcoming company announcements, using our market insight information and analysis tools.

For this edition, we cover the following stocks:

ArcelorMittal

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Anglo American Platinum

Financial results expected 3 February 2014

Anglo American Platinum, a member of the Anglo American Plc Group, is a primary producer of platinum group metals, with the bulk of its operations located in South Africa. The company’s platinum production accounts for around 40% of newly mined platinum in the world.

Results expectation

Anglo American Platinum is expected to report significantly better results, on the 3rd of February 2014, for the year ending December 2013. 

A trading statement released on the 22 January, via the stock exchange news service (sens), has guided that headline earnings are expected to reflect a profit of between 480c and 590c per share from a 562c loss per share the previous year (2012). Improved sales volumes and a favourable $/ZAR exchange rate have been cited as the reasons attributable to the much improved results, while lower metal prices in dollar terms subdued the further improvement thereof.

The market has reacted favourably to the guidance, while the finalized results could see further gains should the figures reported be towards the higher end of the 480c – 590c range guided.  

Amplats workers are currently still engaged in strike action with government mediation failing to help find resolution as of yet. The strike action so far has not hampered share price gains, however continued delays will impact production and sentiment.

Source: IG Insight, as of 14:45 31/01/2014

Source: IG Insight, as of 14:40 31/01/2014

Technical View

The price of Amplats is currently finding resistance at the 45500 level whilst in overbought territory, which alludes to possible near term weakness. 

These indications are however against the long-term trend of Amplats which is considered to be up, as the price is now trading firmly above the 200 day simple moving average (200MA).

Trend followers would be awaiting a break of the resistance at 45500 for a possible move to the next level anticipated at 50000, or alternatively looking to enter near support at 40000 should the near term weakness persist.

Source: ProRealTime Charts, as of 31/01/2014

Fundamentals

Source: IG Insight, as of 15:01 31/01/2014

Source: IG Insight, as of 15:05 31/01/2014

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