Short Interest in Anglo American (OTCMKTS:NGLOY) Decreases By 41.5%

Anglo American (OTCMKTS:NGLOY) was the recipient of a large drop in short interest during the month of August. As of August 31st, there was short interest totaling 103,621 shares, a drop of 41.5% from the August 15th total of 177,223 shares. Based on an average daily volume of 621,477 shares, the days-to-cover ratio is presently 0.2 days. Approximately 0.0% of the company’s shares are sold short.

Anglo American Trading Up 2.9%

Shares of OTCMKTS NGLOY traded up $0.76 during midday trading on Thursday, hitting $26.87. 277,532 shares of the stock traded hands, compared to its average volume of 502,120. Anglo American has a one year low of $17.09 and a one year high of $29.61. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.98 and a quick ratio of 1.54. The firm has a 50-day moving average of $26.37 and a two-hundred day moving average of $25.09.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on NGLOY shares. Scotiabank began coverage on Anglo American in a research note on Tuesday, September 8th. They issued an “outperform” rating on the stock. Barclays restated an “overweight” rating on shares of Anglo American in a research note on Tuesday, July 7th. Freedom Capital downgraded Anglo American from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 16th. Zacks Research lowered Anglo American from a “strong-buy” rating to a “hold” rating in a report on Friday, July 31st. Finally, Berenberg Bank set a $28.00 price objective on shares of Anglo American and gave the company a “hold” rating in a report on Thursday, June 18th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $28.00.

About Anglo American

Anglo American plc is a global mining company headquartered in London, England. Its portfolio is centered on copper, premium iron ore and crop nutrients, with operations and development projects spanning Africa, Australia, South America and the United Kingdom. The company produces raw materials used in infrastructure, manufacturing, transportation, agriculture and the energy transition.

Anglo American’s copper business includes mines in Chile and Peru, while its iron ore operations include Kumba Iron Ore in South Africa and Minas-Rio in Brazil.