Zacks Research Downgrades Anglo American (OTCMKTS:NGLOY) to Strong Sell

Anglo American (OTCMKTS:NGLOY) was downgraded by stock analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Tuesday, Zacks reports.

Several other analysts have also recently weighed in on NGLOY. Scotiabank assumed coverage on shares of Anglo American in a research note on Tuesday, September 8th. They issued an “outperform” rating for the company. Berenberg Bank set a $28.00 target price on Anglo American and gave the company a “hold” rating in a research report on Thursday, June 18th. Barclays restated an “overweight” rating on shares of Anglo American in a research report on Tuesday, July 7th. Finally, Freedom Capital cut shares of Anglo American from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 16th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $28.00.

Anglo American Stock Up 1.4%

OTCMKTS:NGLOY opened at $26.85 on Tuesday. 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 stock has a 50 day simple moving average of $26.98 and a 200 day simple moving average of $25.37. Anglo American has a 1-year low of $17.49 and a 1-year high of $29.61.

Anglo American Company Profile

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.