The stock of Anglo American plc (LON:AAL) gapped up by GBX 4 today and has GBX 1744.81 target or 52.00% above today’s GBX 1147.90 share price. The 6 months technical chart setup indicates low risk for the GBX 16.02B company. The gap was reported on Nov, 8 by Barchart.com. If the GBX 1744.81 price target is reached, the company will be worth GBX 8.33 billion more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. The stock increased 2.26% or GBX 25.4 on November 8, hitting GBX 1147.9. About 6.60M shares traded hands. Anglo American plc (LON:AAL) has risen 97.06% since April 11, 2016 and is uptrending. It has outperformed by 95.10% the S&P500.
Anglo American plc (LON:AAL) Ratings Coverage
Out of 27 analysts covering Anglo American PLC (LON:AAL), 7 rate it a “Buy”, 11 “Sell”, while 9 “Hold”. This means 26% are positive. Anglo American PLC has been the topic of 320 analyst reports since July 22, 2015 according to StockzIntelligence Inc. The stock has “Hold” rating given by Deutsche Bank on Tuesday, October 25. On Wednesday, December 16 the stock rating was downgraded by Societe Generale to “Sell”. The stock has “Underperform” rating given by Macquarie Research on Tuesday, May 17. The stock of Anglo American plc (LON:AAL) has “Sell” rating given on Friday, March 18 by Investec. RBC Capital Markets maintained the stock with “Sector Perform” rating in Monday, January 25 report. The rating was upgraded by RBC Capital Markets on Monday, August 1 to “Outperform”. The firm earned “Outperform” rating on Monday, July 27 by Credit Suisse. The firm earned “Outperform” rating on Friday, October 23 by Bernstein. Jefferies maintained Anglo American plc (LON:AAL) rating on Tuesday, September 20. Jefferies has “Underperform” rating and GBX 750 price target. The stock of Anglo American plc (LON:AAL) earned “Equal Weight” rating by Barclays Capital on Monday, October 24.
More recent Anglo American plc (LON:AAL) news were published by: Bloomberg.com which released: “Anglo Hastens Retreat From Coal, Iron Ore as Losses Double” on February 16, 2016. Also Bloomberg.com published the news titled: “Anglo Said to Rebuff India Billionaire Agarwal’s Merger Plan” on July 28, 2016. Bloomberg.com‘s news article titled: “Anglo American’s Biggest Shareholder Wants Vote on Sale Plan” with publication date: September 01, 2016 was also an interesting one.
Anglo American plc focuses its business on its portfolio of diamonds, platinum group metals and copper. The company has a market cap of 16.02 billion GBP. The Company’s divisions include Platinum; De Beers; Copper; Nickel; Niobium and Phosphates; Iron ore and Manganese; Coal; Corporate, and others. It currently has negative earnings. It produces platinum group metals , which provides approximately 40% of mined platinum and its activities are located in the Bushveld Complex in South Africa.
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