Anglo American (OTCMKTS:NGLOY) Shares Pass Below Fifty Day Moving Average – Here’s What Happened

Shares of Anglo American (OTCMKTS:NGLOY) crossed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $25.32 and traded as low as $24.63. Anglo American shares last traded at $25.03, with a volume of 185,787 shares traded.

Analyst Ratings Changes

Several brokerages have weighed in on NGLOY. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Anglo American in a report on Friday, May 15th. Oddo Bhf raised Anglo American to an “outperform” rating in a research report on Wednesday, April 15th. Freedom Capital lowered Anglo American from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 16th. Berenberg Bank set a $28.00 target price on Anglo American and gave the stock a “hold” rating in a research report on Thursday, June 18th. Finally, Barclays reissued an “overweight” rating on shares of Anglo American in a research note on Tuesday, July 7th. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $28.00.

Anglo American Price Performance

The company’s 50 day moving average price is $25.32 and its 200-day moving average price is $24.27. The company has a current ratio of 1.98, a quick ratio of 1.54 and a debt-to-equity ratio of 0.60.

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.