Short Interest in Anglo American (OTCMKTS:NGLOY) Declines By 53.6%

Anglo American (OTCMKTS:NGLOY) was the target of a significant drop in short interest during the month of March. As of March 13th, there was short interest totaling 134,369 shares, a drop of 53.6% from the February 26th total of 289,805 shares. Approximately 0.0% of the shares of the stock are sold short. Based on an average trading volume of 946,280 shares, the days-to-cover ratio is presently 0.1 days.

Analysts Set New Price Targets

Several research firms have weighed in on NGLOY. DZ Bank upgraded Anglo American from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 25th. JPMorgan Chase & Co. cut Anglo American from a “neutral” rating to an “underweight” rating in a report on Monday, March 9th. Citigroup upgraded Anglo American from a “neutral” rating to a “buy” rating in a research report on Monday, February 2nd. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Anglo American in a research note on Monday, February 23rd. Finally, Barclays reiterated an “overweight” rating on shares of Anglo American in a research report on Wednesday, February 25th. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $20.00.

Anglo American Trading Up 3.6%

Shares of OTCMKTS:NGLOY opened at $21.20 on Thursday. Anglo American has a one year low of $12.70 and a one year high of $26.04. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.98 and a quick ratio of 1.54. The firm has a 50 day simple moving average of $23.16 and a 200 day simple moving average of $20.52.

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.