JPMorgan Chase & Co. Upgrades Anglo American (OTCMKTS:NGLOY) to Neutral

Anglo American (OTCMKTS:NGLOY) was upgraded by JPMorgan Chase & Co. from an “underweight” rating to a “neutral” rating in a note issued to investors on Wednesday, Briefing.com reports.

Other equities research analysts have also recently issued reports about the stock. Barclays reiterated an “overweight” rating on shares of Anglo American in a research report on Tuesday, July 7th. Berenberg Bank set a $28.00 price objective on shares of Anglo American and gave the stock a “hold” rating in a research note on Thursday, June 18th. Freedom Capital cut shares of Anglo American from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 16th. Zacks Research upgraded shares of Anglo American from a “strong sell” rating to a “hold” rating in a report on Monday, October 5th. Finally, Scotiabank began coverage on shares of Anglo American in a research note on Tuesday, September 8th. They set an “outperform” rating for the company. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Anglo American has a consensus rating of “Moderate Buy” and a consensus target price of $28.00.

Anglo American Stock Performance

Shares of Anglo American stock opened at $27.48 on Wednesday. The business has a fifty day simple moving average of $27.41 and a 200-day simple moving average of $25.80. Anglo American has a fifty-two week low of $17.49 and a fifty-two week high of $29.61. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.78 and a current ratio of 2.21.

About Anglo American

Anglo American plc is a global mining company headquartered in London, United Kingdom. The company explores for, develops and produces a range of metals and minerals used in construction, manufacturing, transportation, energy and consumer products. Its principal commodities include copper, premium iron ore, platinum-group metals and diamonds.

Anglo American’s copper business has operations in South America, while its iron ore activities include production in South Africa and Brazil. The company’s platinum-group-metals operations are concentrated in southern Africa, and its diamond business operates through De Beers, which mines, sorts, sells and markets rough and polished diamonds.