Anglo American (OTCMKTS:NGLOY) Shares Pass Below Fifty Day Moving Average – Here’s What Happened

Anglo American (OTCMKTS:NGLOY) passed below its fifty day moving average during trading on Monday . The stock has a fifty 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 trading hands.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on NGLOY. Zacks Research upgraded Anglo American from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 2nd. Berenberg Bank set a $28.00 price target on shares of Anglo American and gave the company a “hold” rating in a report on Thursday, June 18th. Freedom Capital cut shares of Anglo American from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 16th. Oddo Bhf upgraded shares of Anglo American to an “outperform” rating in a research note on Wednesday, April 15th. Finally, Barclays reissued an “overweight” rating on shares of Anglo American in a research report on Tuesday, July 7th. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $28.00.

Anglo American Stock Performance

The firm has a 50-day simple moving average of $25.32 and a 200 day simple moving average of $24.27. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.98 and a quick ratio of 1.54.

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.