Anglo American (OTCMKTS:NGLOY) Shares Gap Down – What’s Next?

Shares of Anglo American (OTCMKTS:NGLOY) gapped down prior to trading on Friday . The stock had previously closed at $22.59, but opened at $21.31. Anglo American shares last traded at $21.6150, with a volume of 365,497 shares trading hands.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on NGLOY shares. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Anglo American in a research note on Monday, February 23rd. Barclays reaffirmed an “overweight” rating on shares of Anglo American in a research note on Wednesday, February 25th. DZ Bank raised shares of Anglo American from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 25th. Finally, Citigroup raised shares of Anglo American from a “neutral” rating to a “buy” rating in a report on Monday, February 2nd. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $20.00.

Anglo American Price Performance

The business has a 50 day moving average price of $23.19 and a two-hundred day moving average price of $19.89. The company has a quick ratio of 1.65, a current ratio of 2.11 and a debt-to-equity ratio of 0.59.

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.