Anglo American (OTCMKTS:NGLOY) Sees Large Volume Increase – Time to Buy?

Anglo American (OTCMKTS:NGLOY) shares saw strong trading volume on Friday . 1,574,226 shares traded hands during mid-day trading, an increase of 159% from the previous session’s volume of 606,721 shares.The stock last traded at $25.61 and had previously closed at $27.26.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Barclays reaffirmed an “overweight” rating on shares of Anglo American in a report on Wednesday, February 25th. Oddo Bhf raised Anglo American to an “outperform” rating in a report on Wednesday, April 15th. DZ Bank upgraded Anglo American from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 25th. JPMorgan Chase & Co. cut Anglo American from a “neutral” rating to an “underweight” rating in a research note on Monday, March 9th. Finally, Citigroup upgraded Anglo American from a “neutral” rating to a “buy” rating in a research note on Monday, February 2nd. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $20.00.

Anglo American Price Performance

The company has a quick ratio of 1.54, a current ratio of 1.98 and a debt-to-equity ratio of 0.60. The stock has a 50 day moving average price of $23.27 and a 200 day moving average price of $21.92.

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.