Anglo American Platinum (OTCMKTS:ANGPY) Shares Gap Down – Should You Sell?

Anglo American Platinum Limited (OTCMKTS:ANGPY)’s stock price gapped down before the market opened on Wednesday. The stock had previously closed at $12.88, but opened at $12.19. Anglo American Platinum shares last traded at $12.2450, with a volume of 147,213 shares traded.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Zacks Research raised shares of Anglo American Platinum from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 22nd. Barclays downgraded Anglo American Platinum from a “hold” rating to a “strong sell” rating in a report on Thursday, September 3rd. Finally, Jefferies Financial Group raised Anglo American Platinum to a “hold” rating in a research report on Monday, August 3rd. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Reduce”.

Anglo American Platinum Stock Down 6.8%

The business has a fifty day moving average price of $14.05 and a 200 day moving average price of $13.38.

About Anglo American Platinum

Anglo American Platinum Limited is a platinum-group metals producer formerly associated with Anglo American plc. The company mines, processes, refines and markets platinum, palladium and rhodium, along with other metals such as nickel, copper and gold that are recovered from its ore. These materials are used in automotive catalytic converters, jewelry, industrial equipment, chemical processing and other applications.

The company’s principal mining activities have historically been concentrated in South Africa, particularly in the Bushveld Complex, one of the world’s most important regions for platinum-group metals.