These are not particularly easy times for Anglo American plc (OTCPK:AAUKY). Copper prices have been holding up, but iron ore has been weak, met coal remains weak, and the company's platinum business has been hit by a major strike. Even so, Anglo's share price is within 10% of its 52-week high due in part to optimism regarding the long-term potential of the company's restructuring efforts. Anglo American shares don't look too expensive today, but investors do need to appreciate the elevated operating risk relative to names like Rio Tinto (NYSE:RIO), BHP Billiton (NYSE:BHP), and Glencore Xstrata (OTCPK:GLNCY).
Iron The Underappreciated Driver
Anglo American lies outside the Big Four iron producers (Vale...
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