Short Interest in Anglo American plc (OTCMKTS:NGLOY) Decreases By 49.1%

Anglo American plc (OTCMKTS:NGLOYGet Rating) was the target of a significant drop in short interest in March. As of March 31st, there was short interest totalling 64,300 shares, a drop of 49.1% from the March 15th total of 126,300 shares. Based on an average daily trading volume, of 370,000 shares, the days-to-cover ratio is currently 0.2 days.

Shares of NGLOY remained flat at $$27.43 during midday trading on Friday. The stock had a trading volume of 187,667 shares, compared to its average volume of 229,917. Anglo American has a 12 month low of $16.75 and a 12 month high of $27.50. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.29 and a current ratio of 1.79. The firm has a 50 day moving average of $25.51 and a 200 day moving average of $21.97.

A number of brokerages have recently weighed in on NGLOY. Berenberg Bank raised their price target on Anglo American from GBX 3,500 ($45.61) to GBX 3,600 ($46.91) in a research report on Thursday, February 24th. UBS Group raised their price target on Anglo American from GBX 2,800 ($36.49) to GBX 3,200 ($41.70) in a research report on Monday, March 28th. Morgan Stanley increased their price objective on Anglo American to GBX 2,900 ($37.79) in a research note on Wednesday, January 19th. HSBC began coverage on Anglo American in a research note on Friday, March 18th. They set a “buy” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Anglo American from GBX 4,100 ($53.43) to GBX 4,300 ($56.03) in a research note on Tuesday, April 5th. One analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $3,053.71.

About Anglo American (Get Rating)

Anglo American plc operates as a mining company worldwide. The company explores for rough and polished diamonds, copper, platinum group metals, metallurgical and thermal coal, and iron ore; and nickel, polyhalite, and manganese ores, as well as alloys. Anglo American plc was founded in 1917 and is headquartered in London, the United Kingdom.

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