Short Interest in Anglo American (OTCMKTS:NGLOY) Declines By 41.5%

Anglo American (OTCMKTS:NGLOY) was the recipient of a significant drop in short interest during the month of August. As of August 31st, there was short interest totaling 103,621 shares, a drop of 41.5% from the August 15th total of 177,223 shares. Based on an average trading volume of 621,477 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.0% of the company’s shares are short sold.

Wall Street Analysts Forecast Growth

NGLOY has been the topic of a number of research reports. Freedom Capital downgraded Anglo American from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 16th. 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. Berenberg Bank set a $28.00 price target on shares of Anglo American and gave the company a “hold” rating in a research report on Thursday, June 18th. Finally, Zacks Research downgraded shares of Anglo American from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Anglo American currently has a consensus rating of “Moderate Buy” and a consensus price target of $28.00.

Anglo American Price Performance

OTCMKTS:NGLOY traded down $0.47 during trading hours on Wednesday, hitting $25.86. The stock had a trading volume of 298,706 shares, compared to its average volume of 503,519. The business has a 50 day simple moving average of $26.32 and a two-hundred day simple moving average of $25.08. Anglo American has a 1-year low of $17.09 and a 1-year high of $29.61. The company has a quick ratio of 1.54, a current ratio of 1.98 and a debt-to-equity ratio of 0.60.

Anglo American Company Profile

Anglo American plc is a global mining company headquartered in London, England. Its portfolio is centered on copper, premium iron ore and crop nutrients, with operations and development projects spanning Africa, Australia, South America and the United Kingdom. The company produces raw materials used in infrastructure, manufacturing, transportation, agriculture and the energy transition.

Anglo American’s copper business includes mines in Chile and Peru, while its iron ore operations include Kumba Iron Ore in South Africa and Minas-Rio in Brazil.