Anglo American (OTCMKTS:NGLOY) Sees Significant Decline in Short Interest

Anglo American (OTCMKTS:NGLOY) saw a significant drop in short interest in June. As of June 15th, there was short interest totaling 238,613 shares, a drop of 70.9% from the May 31st total of 820,469 shares. Based on an average daily volume of 660,336 shares, the days-to-cover ratio is currently 0.4 days. Approximately 0.0% of the company’s stock are short sold.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on NGLOY. JPMorgan Chase & Co. lowered shares of Anglo American from a “neutral” rating to an “underweight” rating in a research note on Monday, March 9th. Oddo Bhf upgraded Anglo American to an “outperform” rating in a research note on Wednesday, April 15th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Anglo American in a report on Friday, May 15th. Freedom Capital cut Anglo American from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 16th. Finally, Berenberg Bank set a $28.00 price target on Anglo American and gave the stock a “hold” rating in a research note on Thursday, June 18th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $28.00.

Anglo American Price Performance

NGLOY opened at $24.31 on Friday. Anglo American has a one year low of $13.56 and a one year high of $29.00. The company has a fifty day moving average price of $25.94 and a 200-day moving average price of $23.50. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.54 and a current ratio of 1.98.

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.