Anglo American (OTCMKTS:NGLOY) Shares Gap Down – Here’s Why

Shares of Anglo American (OTCMKTS:NGLOY) gapped down before the market opened on Thursday . The stock had previously closed at $28.74, but opened at $26.85. Anglo American shares last traded at $26.76, with a volume of 97,323 shares traded.

Analyst Ratings Changes

Several analysts recently weighed in on NGLOY shares. Freedom Capital lowered Anglo American from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 16th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Anglo American in a report on Friday, May 15th. Scotiabank initiated coverage on shares of Anglo American in a report on Tuesday. They issued an “outperform” rating for the company. Zacks Research lowered Anglo American from a “strong-buy” rating to a “hold” rating in a report on Friday, July 31st. Finally, Barclays restated an “overweight” rating on shares of Anglo American in a research note on Tuesday, July 7th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Anglo American currently has an average rating of “Moderate Buy” and an average price target of $28.00.

Anglo American Price Performance

The company has a current ratio of 1.98, a quick ratio of 1.54 and a debt-to-equity ratio of 0.60. The firm has a fifty day moving average price of $26.16 and a 200 day moving average price of $25.03.

About Anglo American

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.