Anglo American more than doubles in value in 2016, confounding naysayers
Anglo is not alone — European mining shares are up 25%, beating all other industries in the Stoxx Europe 600 Index, while analysts rate them the worst LONDON — London’s best blue-chip stock is one most analystsspent this year telling investors to dump.Anglo Americanhas more than doubled in value in 2016, outpacing all other FTSE-100 companies. Since touching a record low on January 26, over half the recommendations on the diamond and iron-ore miner have been to sell.Of the 30 compiled by Bloomberg, only two are to buy, while the business has the lowest consensus investment rating of any on the benchmark index.Anglo’s not alone. European mining shares are up 25%, beating all other industries in the Stoxx Europe 600 Index, while analysts rate them the worst."This rally wrong footed almost everybody,"said Jeremy Wrathall, head of global natural resourcesin London at Investec. The bank maintains a sell rating on Anglo, after cutting its recommendation in January, as well as Glencore and...
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