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Anglo American (OTCMKTS:NGLOY) Reaches New 12-Month High - Time to Buy?

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Key Points

  • Shares hit a new 52-week high of $26.15 on Thursday, last trading at $26.10 on volume of 78,229 shares.
  • Analyst sentiment has turned more positive with upgrades from Citigroup (to "buy") and DZ Bank (to "strong-buy") among others, leaving a MarketBeat average rating of Moderate Buy and a consensus price target of $20, which is below the current share price.
  • Technical and balance-sheet indicators point to upward momentum and manageable leverage: the 50-day MA is $22.93 and the 200-day MA is $21.26, while debt-to-equity is 0.60 with a quick ratio of 1.54 and current ratio of 1.98.
  • Five stocks to consider instead of Anglo American.

Shares of Anglo American (OTCMKTS:NGLOY - Get Free Report) hit a new 52-week high during trading on Thursday . The stock traded as high as $26.15 and last traded at $26.10, with a volume of 78229 shares. The stock had previously closed at $24.92.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on NGLOY shares. Citigroup raised Anglo American from a "neutral" rating to a "buy" rating in a research report on Monday, February 2nd. Barclays reaffirmed an "overweight" rating on shares of Anglo American in a research report on Wednesday, February 25th. DZ Bank raised shares of Anglo American from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, February 25th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of Anglo American in a research note on Monday, February 23rd. Finally, Oddo Bhf raised shares of Anglo American to an "outperform" rating in a research note on Wednesday, April 15th. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $20.00.

Read Our Latest Analysis on NGLOY

Anglo American Stock Performance

The stock's 50 day moving average is $22.93 and its two-hundred day moving average is $21.26. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.54 and a current ratio of 1.98.

About Anglo American

(Get Free Report)

Anglo American plc is a multinational mining company headquartered in London that explores for, mines, processes and markets a broad range of commodities. Its principal activities cover the extraction and processing of bulk and specialty metals and minerals, including copper, iron ore, platinum group metals (PGMs), diamonds, nickel and both metallurgical and thermal coal. Anglo American's operations span the full value chain from greenfield exploration and mine development through to mineral processing, smelting, refining and the sale of mined products to industrial and consumer markets worldwide.

The company has a long history in the mining industry, having been established in the early 20th century and grown into one of the world's major mining groups.

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