Anglo American (LON:AAL) Stock Price Crosses Above 200-Day Moving Average - Here's Why

Key Points

• Anglo American shares have surpassed their 200-day moving average with a recent trading high of GBX 2,242, closing at GBX 2,202.90.
• Analyst ratings on Anglo American are mixed, with one "Buy," three "Hold," and one "Sell," while the average price target is currently set at GBX 2,136.
• Insider transactions have seen significant activity, with company insiders purchasing a total of 1,579 shares valued over $3 million recently.

Shares of Anglo American plc (LON:AAL - Get Free Report) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 2,188.72 ($29.56) and traded as high as GBX 2,242 ($30.28). Anglo American shares last traded at GBX 2,202.90 ($29.75), with a volume of 9,511,781 shares.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on AAL. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a GBX 2,600 target price on shares of Anglo American in a research report on Monday, July 28th. Citigroup raised their target price on Anglo American from GBX 2,200 to GBX 2,300 and gave the company a "neutral" rating in a report on Monday, July 28th. Royal Bank Of Canada lowered their price objective on shares of Anglo American from GBX 2,000 to GBX 1,900 and set a "sector perform" rating for the company in a research note on Monday, August 4th. JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a GBX 1,980 target price on shares of Anglo American in a research note on Wednesday, August 20th. Finally, Berenberg Bank reaffirmed a "sell" rating and set a GBX 1,900 price objective on shares of Anglo American in a research report on Thursday, July 24th. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of GBX 2,136.

Anglo American Trading Down 0.5%

The company has a debt-to-equity ratio of 78.84, a current ratio of 1.98 and a quick ratio of 1.28. The stock has a market cap of £24.17 billion, a price-to-earnings ratio of -788.14, a P/E/G ratio of 2.05 and a beta of 1.10. The business's 50 day moving average is GBX 2,190.90 and its 200 day moving average is GBX 2,182.12.

Insider Activity at Anglo American

In related news, insider Nonkululeko Nyembezi purchased 347 shares of Anglo American stock in a transaction that occurred on Wednesday, June 25th. The stock was purchased at an average cost of GBX 2,044 per share, with a total value of £7,092.68. Also, insider Magali Anderson acquired 341 shares of the company's stock in a transaction on Wednesday, June 25th. The shares were purchased at an average cost of GBX 2,044 per share, for a total transaction of £6,970.04. Insiders acquired 1,579 shares of company stock valued at $3,231,325 over the last three months. 0.43% of the stock is owned by corporate insiders.

Anglo American Company Profile

Anglo American is a leading global mining company focused on the responsible production of copper, premium iron ore and crop nutrients – future-enabling products that are essential for decarbonising the global economy, improving living standards, and food security. Our portfolio of world-class operations and outstanding resource endowments offers value-accretive growth potential across all three businesses, positioning us to deliver into structurally attractive major demand growth trends. Our integrated approach to sustainability and innovation drives our decision-making across the value chain, from how we discover new resources to how we mine, process, move and market our products to our customers – safely, efficiently and responsibly.