Berenberg Bank Issues Positive Forecast for Anglo American (LON:AAL) Stock Price

Key Points

• Berenberg Bank raised its price target for Anglo American to GBX 4,100 and maintained a "buy" rating, implying about a 14.9% upside from the prior close.
• Other brokers are largely bullish—Citigroup upgraded to "buy" with a GBX 4,500 target and UBS reaffirmed a buy at GBX 3,500—leaving a consensus rating of Moderate Buy and an average target of GBX 3,188.57.
• Shares opened at GBX 3,568 (near the 1‑year high of GBX 3,877) with a market cap of £38.23bn, and insiders have recently been buying—Anne Wade acquired 525 shares at GBX 3,050, with insiders owning 0.37% of the company.

Anglo American (LON:AAL - Get Free Report) had its price objective upped by Berenberg Bank from GBX 3,600 to GBX 4,100 in a research note issued to investors on Wednesday,London Stock Exchange reports. The firm currently has a "buy" rating on the mining company's stock. Berenberg Bank's price objective would indicate a potential upside of 14.91% from the company's previous close.

AAL has been the subject of several other research reports. Citigroup upgraded Anglo American to a "buy" rating and boosted their target price for the company from GBX 3,300 to GBX 4,500 in a research report on Monday, February 2nd. UBS Group reaffirmed a "buy" rating and set a GBX 3,500 price target on shares of Anglo American in a research note on Friday, January 23rd. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, Anglo American currently has an average rating of "Moderate Buy" and a consensus price target of GBX 3,188.57.

Anglo American Stock Up 1.4%

Shares of LON:AAL opened at GBX 3,568 on Wednesday. Anglo American has a 1 year low of GBX 1,987.20 and a 1 year high of GBX 3,877. The business has a 50 day simple moving average of GBX 3,400.03 and a two-hundred day simple moving average of GBX 3,179.40. The firm has a market capitalization of £38.23 billion, a PE ratio of -10.81, a price-to-earnings-growth ratio of 2.05 and a beta of 0.94. The company has a debt-to-equity ratio of 91.60, a current ratio of 1.98 and a quick ratio of 1.28.

Insider Buying and Selling

In other Anglo American news, insider Anne Wade acquired 525 shares of Anglo American stock in a transaction that occurred on Monday, March 9th. The stock was bought at an average price of GBX 3,050 per share, with a total value of £16,012.50. Insiders have purchased a total of 542 shares of company stock valued at $1,657,589 over the last ninety days. Insiders own 0.37% of the company's stock.

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.

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