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

Anglo American (OTCMKTS:NGLOY) shares gapped down prior to trading on Wednesday . The stock had previously closed at $25.45, but opened at $23.44. Anglo American shares last traded at $23.52, with a volume of 46,276 shares traded.

Analyst Ratings Changes

A number of research firms have recently weighed in on NGLOY. Zacks Research raised Anglo American from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 2nd. Freedom Capital lowered shares of Anglo American from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 16th. Barclays reissued an “overweight” rating on shares of Anglo American in a report on Tuesday. Oddo Bhf upgraded Anglo American to an “outperform” rating in a research report on Wednesday, April 15th. Finally, Berenberg Bank set a $28.00 price target on Anglo American and gave the company a “hold” rating in a research note on Thursday, June 18th. Two analysts have 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $28.00.

Anglo American Trading Down 5.0%

The stock’s fifty day moving average price is $25.92 and its 200 day moving average price is $23.80. The company has a quick ratio of 1.54, a current ratio of 1.98 and a debt-to-equity ratio of 0.60.

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.