JPMorgan Chase & Co. Downgrades Anglo American (OTCMKTS:NGLOY) to Underweight

Anglo American (OTCMKTS:NGLOY) was downgraded by equities researchers at JPMorgan Chase & Co. from a “neutral” rating to an “underweight” rating in a research report issued to clients and investors on Monday.

Several other equities research analysts also recently commented on NGLOY. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Anglo American in a report on Monday, February 23rd. Barclays reaffirmed an “overweight” rating on shares of Anglo American in a report on Wednesday, February 25th. Citigroup raised shares of Anglo American from a “neutral” rating to a “buy” rating in a report on Monday, February 2nd. Finally, DZ Bank upgraded shares of Anglo American from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 25th. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.00.

Anglo American Price Performance

NGLOY stock opened at $21.69 on Monday. The stock’s 50 day simple moving average is $23.22 and its 200 day simple moving average is $20.02. The company has a quick ratio of 1.65, a current ratio of 2.11 and a debt-to-equity ratio of 0.59. Anglo American has a 12-month low of $12.70 and a 12-month high of $26.04.

About Anglo American

Anglo American plc is a multinational mining company headquartered in London that explores for, mines, processes and markets a broad range of commodities. Its principal activities cover the extraction and processing of bulk and specialty metals and minerals, including copper, iron ore, platinum group metals (PGMs), diamonds, nickel and both metallurgical and thermal coal. Anglo American’s operations span the full value chain from greenfield exploration and mine development through to mineral processing, smelting, refining and the sale of mined products to industrial and consumer markets worldwide.

The company has a long history in the mining industry, having been established in the early 20th century and grown into one of the world’s major mining groups.