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

Anglo American (OTCMKTS:NGLOY)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $28.74, but opened at $26.85. Anglo American shares last traded at $26.76, with a volume of 97,323 shares changing hands.

Wall Street Analyst Weigh In

Several brokerages have recently commented on NGLOY. Scotiabank started coverage on Anglo American in a research report on Tuesday. They issued an “outperform” rating for the company. Zacks Research lowered Anglo American from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 31st. Berenberg Bank set a $28.00 price objective on Anglo American and gave the stock a “hold” rating in a research note on Thursday, June 18th. Barclays restated an “overweight” rating on shares of Anglo American in a research report on Tuesday, July 7th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Anglo American in a research note on Friday, May 15th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $28.00.

Anglo American Stock Down 5.8%

The business has a 50-day moving average of $26.16 and a 200-day moving average of $25.03. 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 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.