Anglo American (OTCMKTS:NGLOY) Stock Crosses Above 200-Day Moving Average - Here's Why

Key Points

• Anglo American shares crossed above their 200-day moving average, reaching $25.6450 and last trading at $25.63, compared with the $25.07 average.
• Analyst sentiment is mixed but leans positive: the stock has a consensus “Moderate Buy” rating and a $28.00 target price, with recent upgrades from Zacks Research and JPMorgan offset by a downgrade from Freedom Broker.
• Anglo American is a global mining company with exposure to copper, iron ore, platinum-group metals, nickel, metallurgical coal and diamonds.

Shares of Anglo American (OTCMKTS:NGLOY - Get Free Report) crossed above its two hundred day moving average during trading on Tuesday. The stock has a two hundred day moving average of $25.07 and traded as high as $25.6450. Anglo American shares last traded at $25.63, with a volume of 318,461 shares trading hands.

Analysts Set New Price Targets

A number of brokerages recently weighed in on NGLOY. Zacks Research upgraded Anglo American from a "strong sell" rating to a "hold" rating in a research note on Monday, October 5th. JPMorgan Chase & Co. upgraded Anglo American from an "underweight" rating to a "neutral" rating in a research note on Wednesday, October 14th. Barclays reiterated an "overweight" rating on shares of Anglo American in a report on Tuesday, July 7th. Scotiabank started coverage on shares of Anglo American in a research report on Tuesday, September 8th. They set an "outperform" rating for the company. Finally, Freedom Broker cut shares of Anglo American from a "hold" rating to a "strong sell" rating in a report on Friday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Anglo American has an average rating of "Moderate Buy" and a consensus target price of $28.00.

Anglo American Stock Performance

The firm has a 50-day simple moving average of $27.12 and a two-hundred day simple moving average of $25.07.

About Anglo American

Anglo American plc is a global mining company headquartered in London, United Kingdom. Founded in 1917, the company explores for, develops and produces a range of natural resources used in construction, manufacturing, energy and consumer products.

Its principal commodities have included copper, iron ore, platinum-group metals, nickel, metallurgical coal and diamonds. Anglo American has operated mines and processing facilities across Africa, Australia, South America and other international markets.

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