Anglo American (OTCMKTS:NGLOY) Hits New 1-Year High - What's Next?

Key Points

• Anglo American shares reached a new 52-week high, trading as high as $29.08 and most recently at $29.07, up from a prior close of $28.47.
• Analyst sentiment remains broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $28.00, despite some recent downgrades to “Hold.”
• The company has solid short-term liquidity, with a quick ratio of 1.54 and current ratio of 1.98; institutional ownership remains limited at 0.03%, although Foster & Motley recently purchased a new position valued at about $1.2 million.

Shares of Anglo American (OTCMKTS:NGLOY - Get Free Report) hit a new 52-week high during trading on Wednesday . The company traded as high as $29.08 and last traded at $29.07, with a volume of 28594 shares trading hands. The stock had previously closed at $28.47.

Analyst Upgrades and Downgrades

Several research firms have recently commented on NGLOY. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of Anglo American in a report on Friday, May 15th. Zacks Research lowered Anglo American from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 31st. Freedom Capital downgraded Anglo American from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, June 16th. Barclays restated an "overweight" rating on shares of Anglo American in a research note on Tuesday, July 7th. Finally, Berenberg Bank set a $28.00 target price on Anglo American and gave the company a "hold" rating in a research note on Thursday, June 18th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Anglo American currently has a consensus rating of "Moderate Buy" and an average target price of $28.00.

Anglo American Stock Up 0.3%

The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.54 and a current ratio of 1.98. The business's 50 day simple moving average is $25.44 and its 200-day simple moving average is $24.72.

Institutional Investors Weigh In On Anglo American

An institutional investor recently bought a new position in Anglo American stock. Foster & Motley Inc. acquired a new position in shares of Anglo American (OTCMKTS:NGLOY - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 4,309 shares of the mining company's stock, valued at approximately $1,207,000. 0.03% of the stock is currently owned by institutional investors and hedge funds.

About Anglo American

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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