JPMorgan Chase & Co. Downgrades Anglo American (OTCMKTS:NGLOY) to Underweight

Anglo American (OTCMKTS:NGLOY) was downgraded by analysts at JPMorgan Chase & Co. from a “neutral” rating to an “underweight” rating in a research note issued to investors on Monday, MarketBeat Ratings reports.

NGLOY has been the subject of several other reports. Citigroup upgraded Anglo American from a “neutral” rating to a “buy” rating in a research note on Monday, February 2nd. DZ Bank upgraded Anglo American from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 25th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Anglo American in a research report on Monday, February 23rd. Finally, Barclays restated an “overweight” rating on shares of Anglo American in a report on Wednesday, February 25th. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $20.00.

Anglo American Stock Up 2.9%

Shares of NGLOY opened at $22.27 on Monday. Anglo American has a twelve month low of $12.70 and a twelve month high of $26.04. The company has a quick ratio of 1.65, a current ratio of 2.11 and a debt-to-equity ratio of 0.59. The stock’s fifty day simple moving average is $23.28 and its 200 day simple moving average is $20.12.

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.