Anglo American (OTCMKTS:NGLOY) Sees Significant Decrease in Short Interest

Anglo American (OTCMKTS:NGLOY) was the target of a significant decline in short interest in June. As of June 15th, there was short interest totaling 238,613 shares, a decline of 70.9% from the May 31st total of 820,469 shares. Approximately 0.0% of the company’s stock are short sold. Based on an average daily volume of 660,336 shares, the days-to-cover ratio is currently 0.4 days.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Oddo Bhf upgraded shares of Anglo American to an “outperform” rating in a research note on Wednesday, April 15th. 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. JPMorgan Chase & Co. cut Anglo American from a “neutral” rating to an “underweight” rating in a report on Monday, March 9th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Anglo American in a research note on Friday, May 15th. Finally, Freedom Capital cut Anglo American from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 16th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $28.00.

Anglo American Trading Down 0.8%

Shares of OTCMKTS:NGLOY traded down $0.20 during trading on Monday, hitting $24.11. 299,097 shares of the company were exchanged, compared to its average volume of 552,248. The firm’s 50 day moving average price is $25.94 and its 200-day moving average price is $23.53. Anglo American has a 12-month low of $13.56 and a 12-month high of $29.00. The company has a quick ratio of 1.54, a current ratio of 1.98 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.