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

Anglo American Platinum Limited (OTCMKTS:ANGPY) shares 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 changing hands.

Analysts Set New Price Targets

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

Anglo American Platinum Stock Down 6.8%

The business has a 50 day simple moving average of $14.05 and a 200-day simple moving average of $13.38.

Anglo American Platinum Company Profile

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.