Anglo American downgraded to Sector Perform from Outperform at RBC Capital

RBC Capital analyst Tyler Broda downgraded Anglo American to Sector Perform from Outperform with a 2,800 GBp price target. The analyst is "incrementally cautious" on mining stocks heading into 2023. Miners trading at a premium heading into a "tricky" year on multiple fronts, including recessionary pressures, higher costs of capital and a soft outlook for iron ore prices, Broda tells investors in a research note.