Could Anglo American plc See a Reversal After Breaking Its 52-Week High?

 Could Anglo American plc See a Reversal After Breaking Its 52 Week High?

The stock of Anglo American plc (LON:AAL) hit a new 52-week high and has GBX 1625.07 target or 32.00% above today’s GBX 1231.11 share price. The 9 months bullish chart indicates low risk for the GBX 17.29B company. The 1-year high was reported on Nov, 10 by Barchart.com. If the GBX 1625.07 price target is reached, the company will be worth GBX 5.53 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. The stock increased 3.19% or GBX 38.11 on November 10, hitting GBX 1231.11. About 14.06M shares traded hands or 83.31% up from the average. Anglo American plc (LON:AAL) has risen 86.79% since April 12, 2016 and is uptrending. It has outperformed by 81.14% 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”, 10 “Sell”, while 10 “Hold”. This means 26% are positive. GBX 2050 is the highest target while GBX 152 is the lowest. The GBX 740.08 average target is -39.89% below today’s (GBX 1231.11) stock price. Anglo American PLC has been the topic of 323 analyst reports since July 22, 2015 according to StockzIntelligence Inc. The company was maintained on Wednesday, February 17 by Credit Suisse. BNP Paribas maintained the shares of AAL in a report on Wednesday, December 16 with “Neutral” rating. The firm has “Sell” rating by Liberum Capital given on Thursday, November 12. Jefferies maintained the stock with “Underperform” rating in Friday, April 29 report. As per Friday, November 20, the company rating was maintained by UBS. The firm has “Sector Performer” rating by RBC Capital Markets given on Friday, April 29. The stock of Anglo American plc (LON:AAL) has “Neutral” rating given on Tuesday, August 9 by Credit Suisse. On Thursday, March 17 the stock rating was maintained by Nomura with “Reduce”. The rating was maintained by Investec with “Hold” on Monday, August 10. Liberum Capital maintained Anglo American plc (LON:AAL) on Monday, April 11 with “Sell” rating.

More news for Anglo American plc (LON:AAL) were recently published by: Bloomberg.com, which released: “Anglo Hastens Retreat From Coal, Iron Ore as Losses Double” on February 16, 2016. Bloomberg.com‘s article titled: “Anglo Said to Rebuff India Billionaire Agarwal’s Merger Plan” and published on July 28, 2016 is yet another important article.

Anglo American plc focuses its business on its portfolio of diamonds, platinum group metals and copper. The company has a market cap of 17.29 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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