Short Interest in Anglo American (OTCMKTS:NGLOY) Expands By 429.2%

Key Points

• Short interest in Anglo American surged by 429.2% in September, rising from 41,500 shares to a total of 219,600 shares, indicating increased bearish sentiment among investors.
• The company recently announced a dividend payout of $0.028 per share, which was paid on October 7th, following an ex-dividend date of August 22nd.
• Despite short-term fluctuations, Wall Street analysts maintain a consensus rating of "Moderate Buy" for Anglo American, with a target price of $20.00, reflecting positive growth expectations.

Anglo American (OTCMKTS:NGLOY - Get Free Report) saw a large increase in short interest in the month of September. As of September 30th, there was short interest totaling 219,600 shares, an increase of 429.2% from the September 15th total of 41,500 shares. Based on an average daily volume of 1,350,000 shares, the days-to-cover ratio is currently 0.2 days. Based on an average daily volume of 1,350,000 shares, the days-to-cover ratio is currently 0.2 days.

Anglo American Price Performance

Shares of NGLOY traded down $0.54 during mid-day trading on Friday, hitting $19.19. 541,765 shares of the company traded hands, compared to its average volume of 306,818. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.11 and a quick ratio of 1.65. The business has a 50-day moving average of $16.87 and a 200 day moving average of $15.11. Anglo American has a one year low of $12.70 and a one year high of $20.46.

Anglo American Cuts Dividend

The company also recently announced a dividend, which was paid on Tuesday, October 7th. Stockholders of record on Monday, August 25th were given a dividend of $0.028 per share. The ex-dividend date was Friday, August 22nd.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on NGLOY. Royal Bank Of Canada reiterated a "sector perform" rating on shares of Anglo American in a research note on Monday, August 4th. Citigroup reiterated a "neutral" rating on shares of Anglo American in a research report on Friday, September 26th. Berenberg Bank set a $20.00 price target on shares of Anglo American in a research note on Wednesday, October 8th. Finally, DZ Bank lowered shares of Anglo American from a "strong-buy" rating to a "hold" rating in a report on Thursday, September 11th. Two investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $20.00.

About Anglo American

Anglo American plc operates as a mining company in the United Kingdom and internationally. It explores for rough and polished diamonds, copper, platinum group metals and nickel, steelmaking coal, and iron ore; and nickel, polyhalite, and manganese ores. Anglo American plc was founded in 1917 and is headquartered in London, the United Kingdom.

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