Anglo American (OTCMKTS:NGLOY) Hits New 1-Year High – Should You Buy?

Anglo American (OTCMKTS:NGLOY) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $29.52 and last traded at $29.47, with a volume of 19602 shares traded. The stock had previously closed at $28.37.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on NGLOY shares. Freedom Capital cut shares of Anglo American from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 16th. Zacks Research downgraded shares of Anglo American from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 31st. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Anglo American in a research report on Friday, May 15th. Scotiabank initiated coverage on Anglo American in a research note on Tuesday. They set an “outperform” rating on the stock. Finally, Berenberg Bank set a $28.00 target price on shares of Anglo American and gave the company a “hold” rating in a research note on Thursday, June 18th. One investment 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 issued a Sell rating to the stock. According to data from MarketBeat, Anglo American has a consensus rating of “Moderate Buy” and a consensus target price of $28.00.

Anglo American Trading Up 3.3%

The firm has a fifty day simple moving average of $25.99 and a 200 day simple moving average of $24.97. The company has a current ratio of 1.98, a quick ratio of 1.54 and a debt-to-equity ratio of 0.60.

Anglo American Company Profile

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.