Anglo American (OTCMKTS:NGLOY) Stock Short Interest Declines 39.7%

Key Points

• Short interest fell 39.7% to 86,461 shares as of September 30, representing approximately 0.0% of outstanding shares and just 0.1 days to cover.
• Analyst sentiment is generally positive, with a consensus rating of “Moderate Buy” and a $28.00 price target; JPMorgan and Zacks recently upgraded their views.
• Anglo American shares declined 1.0% to $26.75, while trading within a 52-week range of $17.49 to $29.61.

Anglo American (OTCMKTS:NGLOY - Get Free Report) saw a large decrease in short interest in the month of September. As of September 30th, there was short interest totaling 86,461 shares, a decrease of 39.7% from the September 15th total of 143,435 shares. Approximately 0.0% of the shares of the stock are sold short. Based on an average daily volume of 644,895 shares, the days-to-cover ratio is presently 0.1 days.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on NGLOY. JPMorgan Chase & Co. upgraded Anglo American from an "underweight" rating to a "neutral" rating in a report on Wednesday. Zacks Research raised Anglo American from a "strong sell" rating to a "hold" rating in a report on Monday, October 5th. Scotiabank began coverage on shares of Anglo American in a research report on Tuesday, September 8th. They set an "outperform" rating on the stock. Berenberg Bank set a $28.00 price target on shares of Anglo American and gave the stock a "hold" rating in a report on Thursday, June 18th. Finally, Barclays reiterated an "overweight" rating on shares of Anglo American in a report on Tuesday, July 7th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $28.00.

Anglo American Stock Down 1.0%

Anglo American stock traded down $0.28 during mid-day trading on Friday, hitting $26.75. The company had a trading volume of 401,378 shares, compared to its average volume of 483,167. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.78 and a current ratio of 2.21. Anglo American has a 1 year low of $17.49 and a 1 year high of $29.61. The business has a fifty day moving average of $27.40 and a 200 day moving average of $25.89.

Anglo American Company Profile

Anglo American plc is a global mining company headquartered in London, United Kingdom. The company explores for, develops and produces a range of metals and minerals used in construction, manufacturing, transportation, energy and consumer products. Its principal commodities include copper, premium iron ore, platinum-group metals and diamonds.

Anglo American's copper business has operations in South America, while its iron ore activities include production in South Africa and Brazil. The company's platinum-group-metals operations are concentrated in southern Africa, and its diamond business operates through De Beers, which mines, sorts, sells and markets rough and polished diamonds.

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