Anglo American Platinum (OTCMKTS:ANGPY) Shares Climb 1.5% – Time to Buy?

Anglo American Platinum Limited (OTCMKTS:ANGPY) was up 1.5% on Thursday. The stock traded as high as $12.5070 and last traded at $12.48. Approximately 62,419 shares changed hands during mid-day trading, a decline of 48% from the average daily volume of 119,923 shares. The stock had previously closed at $12.30.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ANGPY. Zacks Research upgraded Anglo American Platinum from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 22nd. Jefferies Financial Group raised shares of Anglo American Platinum to a “hold” rating in a research report on Monday, August 3rd. Finally, Barclays cut shares of Anglo American Platinum from a “hold” rating to a “strong sell” rating in a research note on Thursday, September 3rd. Two analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Reduce”.

Anglo American Platinum Price Performance

The firm has a 50-day moving average of $14.07 and a 200-day moving average of $13.40.

Anglo American Platinum Company Profile

Anglo American Platinum Limited is a South Africa-based producer of platinum group metals (PGMs), including platinum, palladium, rhodium, iridium and ruthenium. The company also produces associated metals such as nickel, copper, cobalt and gold as byproducts of its mining and processing activities.

Its operations have historically centered on the Bushveld Complex in South Africa, one of the world’s largest sources of PGMs, with mining assets including Mogalakwena, Amandelbult and Mototolo.