Anglo American (OTCMKTS:NGLOY) Stock Gets Downgrade from Freedom Broker

Key Points

• Freedom Broker downgraded Anglo American from “hold” to “strong sell,” despite mixed views from other analysts.
• MarketBeat’s consensus rating remains “Moderate Buy”, with one Strong Buy, five Buy, four Hold and one Sell rating; the consensus price target is $28.00.
• NGLOY opened at $24.34, below its 50-day moving average of $27.21 and 200-day moving average of $26.02, while trading within a 52-week range of $17.49 to $29.61.

Anglo American (OTCMKTS:NGLOY - Get Free Report) was downgraded by equities researchers at Freedom Broker from a "hold" rating to a "strong sell" rating in a research note issued on Friday, Zacks reports.

Several other research analysts have also recently weighed in on NGLOY. JPMorgan Chase & Co. raised Anglo American from an "underweight" rating to a "neutral" rating in a research report on Wednesday, October 14th. Zacks Research raised Anglo American from a "strong sell" rating to a "hold" rating in a research report on Monday, October 5th. Barclays reissued an "overweight" rating on shares of Anglo American in a research report on Tuesday, July 7th. Finally, Scotiabank started coverage on Anglo American in a research note on Tuesday, September 8th. They issued an "outperform" rating on the stock. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Anglo American has a consensus rating of "Moderate Buy" and a consensus target price of $28.00.

Anglo American Price Performance

Shares of NGLOY opened at $24.34 on Friday. The company's 50 day moving average price is $27.21 and its 200 day moving average price is $26.02. The company has a quick ratio of 1.78, a current ratio of 2.21 and a debt-to-equity ratio of 0.68. Anglo American has a 52 week low of $17.49 and a 52 week high of $29.61.

About Anglo American

Anglo American plc is a global mining company headquartered in London, United Kingdom. Founded in 1917, the company explores for, develops and produces a range of natural resources used in construction, manufacturing, energy and consumer products.

Its principal commodities have included copper, iron ore, platinum-group metals, nickel, metallurgical coal and diamonds. Anglo American has operated mines and processing facilities across Africa, Australia, South America and other international markets.

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