Anglo American (OTCMKTS:NGLOY) Sees Large Volume Increase – What’s Next?

Anglo American (OTCMKTS:NGLOY) shares saw unusually-strong trading volume on Monday . 869,890 shares were traded during trading, an increase of 74% from the previous session’s volume of 501,059 shares.The stock last traded at $26.33 and had previously closed at $27.22.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on NGLOY. Barclays reaffirmed an “overweight” rating on shares of Anglo American in a report on Tuesday, July 7th. Berenberg Bank set a $28.00 price target on shares of Anglo American and gave the company a “hold” rating in a research report on Thursday, June 18th. Freedom Capital cut shares of Anglo American from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 16th. Scotiabank assumed coverage on shares of Anglo American in a research report on Tuesday, September 8th. They issued an “outperform” rating for the company. Finally, Zacks Research lowered shares of Anglo American from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 31st. 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 given a Sell rating to the company. According to data from MarketBeat.com, Anglo American presently has an average rating of “Moderate Buy” and an average target price of $28.00.

Anglo American Price Performance

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 moving average price of $26.25 and a 200 day moving average price of $25.06.

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.