Anglo American (LON:AAL) Upgraded to Buy at Berenberg Bank

Key Points

• Anglo American has been upgraded to a "buy" rating by Berenberg Bank, which has also increased its price target for the stock from GBX 2,300 to GBX 3,000.
• As of midday trading, shares of Anglo American rose by GBX 87 to reach GBX 2,896, with a potential upside of 3.59% based on the new price target.
• Insiders have recently been active in purchasing shares of Anglo American, acquiring a total of 1,187 shares worth approximately $3.2 million over the past three months.

Anglo American (LON:AAL - Get Free Report) was upgraded by equities research analysts at Berenberg Bank to a "buy" rating in a report released on Tuesday, MarketBeat Ratings reports. The brokerage presently has a GBX 3,000 price target on the mining company's stock, up from their prior price target of GBX 2,300. Berenberg Bank's target price points to a potential upside of 3.59% from the company's current price.

Several other equities analysts have also recently issued reports on AAL. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a GBX 2,600 price objective on shares of Anglo American in a research note on Monday, July 28th. Citigroup lifted their target price on shares of 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. JPMorgan Chase & Co. reissued a "neutral" rating and issued a GBX 1,980 target price on shares of Anglo American in a research report on Wednesday, August 20th. Finally, Royal Bank Of Canada dropped their target price on shares of Anglo American from GBX 2,000 to GBX 1,900 and set a "sector perform" rating on the stock in a research report on Monday, August 4th. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of GBX 2,356.

Anglo American Price Performance

Shares of AAL stock traded up GBX 87 during midday trading on Tuesday, reaching GBX 2,896. 47,358,809 shares of the company were exchanged, compared to its average volume of 5,799,887. Anglo American has a 12 month low of GBX 1,900.01 and a 12 month high of GBX 2,999.77. The company has a market cap of £30.95 billion, a P/E ratio of -742.07, a PEG ratio of 2.05 and a beta of 1.10. The company's 50 day moving average price is GBX 2,375.63 and its two-hundred day moving average price is GBX 2,220.10. The company has a debt-to-equity ratio of 78.84, a quick ratio of 1.28 and a current ratio of 1.98.

Insider Transactions at Anglo American

In other news, insider Nonkululeko Nyembezi acquired 259 shares of Anglo American stock in a transaction dated Monday, September 29th. The stock was acquired at an average cost of GBX 2,731 per share, for a total transaction of £7,073.29. Also, insider Magali Anderson acquired 255 shares of Anglo American stock in a transaction dated Monday, September 29th. The stock was purchased at an average price of GBX 2,731 per share, with a total value of £6,964.05. Over the last three months, insiders bought 1,187 shares of company stock worth $3,228,346. 0.43% of the stock is owned by insiders.

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.

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