Anglo American Platinum (OTCMKTS:ANGPY) Shares Gap Down – Here’s What Happened

Anglo American Platinum Limited (OTCMKTS:ANGPY) shares gapped down prior to trading 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 trading hands.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on ANGPY shares. Jefferies Financial Group raised Anglo American Platinum to a “hold” rating in a research note 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 lowered Anglo American Platinum from a “hold” rating to a “strong sell” rating in a research report on Thursday, September 3rd. Two equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce”.

Anglo American Platinum Stock Performance

The firm’s 50 day simple moving average is $13.99 and its 200 day simple moving average is $13.38.

About Anglo American Platinum

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.