Anglo American (OTCMKTS:NGLOY) Stock Price Crosses Below Fifty Day Moving Average After Analyst Downgrade

Anglo American (OTCMKTS:NGLOY)’s share price passed below its 50-day moving average during trading on Monday after Zacks Research downgraded the stock from a strong-buy rating to a hold rating. The stock has a 50-day moving average of $25.32 and traded as low as $24.63. Anglo American shares last traded at $25.03, with a volume of 185,787 shares traded.

NGLOY has been the subject of a number of other research reports. Berenberg Bank set a $28.00 target price on Anglo American and gave the company a “hold” rating in a research note on Thursday, June 18th. Oddo Bhf raised Anglo American to an “outperform” rating in a research note on Wednesday, April 15th. Freedom Capital lowered Anglo American from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 16th. Barclays restated an “overweight” rating on shares of Anglo American in a report on Tuesday, July 7th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Anglo American in a research report on Friday, May 15th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Anglo American currently has a consensus rating of “Moderate Buy” and a consensus target price of $28.00.

Anglo American Price Performance

The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.54 and a current ratio of 1.98. The stock has a 50-day moving average of $25.32 and a two-hundred day moving average of $24.34.

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.