Anglo American (OTCMKTS:NGLOY) Sets New 1-Year High – Here’s Why

Anglo American (OTCMKTS:NGLOY)’s share price hit a new 52-week high on Tuesday . The stock traded as high as $25.70 and last traded at $25.48, with a volume of 678928 shares trading hands. The stock had previously closed at $23.75.

Analyst Ratings Changes

Several research firms recently issued reports on NGLOY. Citigroup raised shares of Anglo American from a “neutral” rating to a “buy” rating in a research report on Monday. Berenberg Bank set a $20.00 target price on Anglo American in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $20.00.

Anglo American Stock Up 6.7%

The company has a current ratio of 2.11, a quick ratio of 1.65 and a debt-to-equity ratio of 0.59. The firm’s fifty day moving average is $20.83 and its 200-day moving average is $18.38.

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.