Anglo American (OTCMKTS:NGLOY) Hits New 12-Month High – Time to Buy?

Anglo American (OTCMKTS:NGLOY) reached a new 52-week high on Friday . The company traded as high as $20.51 and last traded at $20.4550, with a volume of 120949 shares. The stock had previously closed at $20.19.

Wall Street Analysts Forecast Growth

NGLOY has been the topic of several research analyst reports. Berenberg Bank set a $20.00 price objective on shares of Anglo American in a report on Wednesday, October 8th. Citigroup restated a “neutral” rating on shares of Anglo American in a report on Friday, September 26th. Finally, DZ Bank downgraded shares of Anglo American from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 11th. Two equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, Anglo American presently has a consensus rating of “Moderate Buy” and an average target price of $20.00.

Anglo American Stock Up 0.9%

The firm’s fifty day simple moving average is $19.00 and its 200 day simple moving average is $16.99. The company has a current ratio of 2.11, a quick ratio of 1.65 and a debt-to-equity ratio of 0.59.

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.