Anglo American (OTCMKTS:NGLOY) Shares Gap Up – Here’s Why

Anglo American (OTCMKTS:NGLOY)’s share price gapped up prior to trading on Friday . The stock had previously closed at $22.38, but opened at $23.20. Anglo American shares last traded at $22.93, with a volume of 104,797 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank set a $20.00 price objective on Anglo American in a research report on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $20.00.

Anglo American Price Performance

The company’s 50-day moving average is $20.11 and its 200-day moving average is $17.99. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.11 and a quick ratio of 1.65.

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.