Anglo American (OTCMKTS:NGLOY) Shares Gap Down – What’s Next?

Shares of Anglo American (OTCMKTS:NGLOY) gapped down before the market opened on Thursday . The stock had previously closed at $28.74, but opened at $26.85. Anglo American shares last traded at $26.76, with a volume of 97,323 shares changing hands.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Scotiabank began coverage on Anglo American in a report on Tuesday. They issued an “outperform” rating for the company. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Anglo American in a research note on Friday, May 15th. Freedom Capital cut Anglo American from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 16th. Zacks Research downgraded Anglo American from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 31st. Finally, Barclays reaffirmed an “overweight” rating on shares of Anglo American in a report on Tuesday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Anglo American has an average rating of “Moderate Buy” and a consensus target price of $28.00.

Anglo American Stock Up 1.0%

The company’s fifty day simple moving average is $26.25 and its 200 day simple moving average is $25.06. The company has a quick ratio of 1.54, a current ratio of 1.98 and a debt-to-equity ratio of 0.60.

About Anglo American

Anglo American plc is a global mining company headquartered in London, England. Its portfolio is centered on copper, premium iron ore and crop nutrients, with operations and development projects spanning Africa, Australia, South America and the United Kingdom. The company produces raw materials used in infrastructure, manufacturing, transportation, agriculture and the energy transition.

Anglo American’s copper business includes mines in Chile and Peru, while its iron ore operations include Kumba Iron Ore in South Africa and Minas-Rio in Brazil.