Anglo American (LON:AAL) Shares Up 7.7% After Analyst Upgrade

Key Points

• Anglo American's stock price increased by 7.7% on Tuesday, reaching GBX 2,458 ($33.30), with trading volume soaring to approximately 59.6 million shares.
• Analyst ratings for Anglo American show mixed opinions, with one "Buy," three "Hold," and one "Sell" rating; the average target price is GBX 2,136.
• Recent insider purchases indicate optimism, with two insiders acquiring a total of 1,579 shares at an average price of GBX 2,044 per share.

Shares of Anglo American plc (LON:AAL - Get Free Report) rose 7.7% during trading on Tuesday after Berenberg Bank upgraded the stock to a hold rating. Berenberg Bank now has a GBX 2,300 price target on the stock, up from their previous price target of GBX 1,900. Anglo American traded as high as GBX 2,477 ($33.59) and last traded at GBX 2,458 ($33.33). Approximately 59,598,586 shares changed hands during trading, an increase of 899% from the average daily volume of 5,965,538 shares. The stock had previously closed at GBX 2,283 ($30.96).

AAL has been the subject of a number of other reports. Royal Bank Of Canada lowered their price objective on Anglo American from GBX 2,000 to GBX 1,900 and set a "sector perform" rating for the company in a research report on Monday, August 4th. Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a GBX 2,600 price objective on shares of Anglo American in a research report on Monday, July 28th. Citigroup raised their price objective on Anglo American from GBX 2,200 to GBX 2,300 and gave the stock a "neutral" rating in a research report on Monday, July 28th. Finally, JPMorgan Chase & Co. restated a "neutral" rating and set a GBX 1,980 price objective on shares of Anglo American in a research report on Wednesday, August 20th. One research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of GBX 2,216.

Insider Buying and Selling at Anglo American

In other news, insider Magali Anderson acquired 341 shares of Anglo American stock in a transaction on Wednesday, June 25th. The stock was purchased at an average price of GBX 2,044 per share, with a total value of £6,970.04. Also, insider Stuart J. Chambers acquired 859 shares of Anglo American stock in a transaction on Wednesday, June 25th. The stock was purchased at an average cost of GBX 2,044 per share, with a total value of £17,557.96. Over the last quarter, insiders bought 1,579 shares of company stock valued at $3,231,325. Company insiders own 0.43% of the company's stock.

Anglo American Stock Up 0.7%

The company has a quick ratio of 1.28, a current ratio of 1.98 and a debt-to-equity ratio of 78.84. The stock has a 50 day simple moving average of GBX 2,235.82 and a 200 day simple moving average of GBX 2,179.08. The stock has a market cap of £27.30 billion, a price-to-earnings ratio of -654.69, a PEG ratio of 2.05 and a beta of 1.10.

About Anglo American

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.