Anglo American (OTCMKTS:NGLOY) Sets New 1-Year High – Here’s Why

Anglo American (OTCMKTS:NGLOY)’s stock price hit a new 52-week high during trading on Wednesday . The company traded as high as $29.08 and last traded at $29.07, with a volume of 28594 shares traded. The stock had previously closed at $28.47.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on NGLOY shares. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Anglo American in a research note on Friday, May 15th. Freedom Capital lowered Anglo American from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 16th. Berenberg Bank set a $28.00 price objective on Anglo American and gave the company a “hold” rating in a report on Thursday, June 18th. Zacks Research downgraded Anglo American from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 31st. Finally, Barclays reissued an “overweight” rating on shares of Anglo American in a report on Tuesday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Anglo American currently has an average rating of “Moderate Buy” and an average price target of $28.00.

Anglo American Stock Up 0.0%

The firm’s fifty day moving average is $25.53 and its 200 day moving average is $24.80. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.54 and a current ratio of 1.98.

Institutional Investors Weigh In On Anglo American

An institutional investor recently bought a new stake in Anglo American stock. Foster & Motley Inc. bought a new stake in Anglo American (OTCMKTS:NGLOY) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 4,309 shares of the mining company’s stock, valued at approximately $1,207,000. 0.03% of the stock is currently owned by institutional investors and hedge funds.

Anglo American Company Profile

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.