Short Interest in Anglo American (OTCMKTS:NGLOY) Declines By 41.5%

Anglo American (OTCMKTS:NGLOY) was the target of a significant decline in short interest during the month of August. As of August 31st, there was short interest totaling 103,621 shares, a decline of 41.5% from the August 15th total of 177,223 shares. Based on an average trading volume of 621,477 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.0% of the company’s stock are sold short.

Anglo American Stock Performance

Shares of NGLOY stock traded down $0.47 on Wednesday, hitting $25.86. 298,706 shares of the stock traded hands, compared to its average volume of 503,519. The company’s fifty day moving average is $26.32 and its 200 day moving average is $25.08. Anglo American has a 1-year low of $17.09 and a 1-year high of $29.61. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.54 and a current ratio of 1.98.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Freedom Capital downgraded Anglo American from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 16th. Scotiabank began coverage on Anglo American in a report on Tuesday, September 8th. They set an “outperform” rating on the stock. 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. Zacks Research lowered shares of Anglo American from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 31st. Finally, Barclays reaffirmed an “overweight” rating on shares of Anglo American in a report on Tuesday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $28.00.

Anglo American Company Profile

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.