Anglo American (OTCMKTS:NGLOY) Sees Strong Trading Volume – What’s Next?

Anglo American (OTCMKTS:NGLOY) saw unusually-high trading volume on Monday . Approximately 869,890 shares were traded during trading, an increase of 74% from the previous session’s volume of 501,059 shares.The stock last traded at $26.33 and had previously closed at $27.22.

Wall Street Analyst Weigh In

A number of research firms have recently commented on NGLOY. Barclays reissued an “overweight” rating on shares of Anglo American in a research note on Tuesday, July 7th. Scotiabank started coverage on Anglo American in a report on Tuesday, September 8th. They issued an “outperform” rating on the stock. Berenberg Bank set a $28.00 price objective on Anglo American and gave the stock a “hold” rating in a research note on Thursday, June 18th. Freedom Capital cut Anglo American from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 16th. Finally, Zacks Research downgraded Anglo American from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $28.00.

Anglo American Stock Down 2.2%

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

Anglo American Company Profile

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.