The stock of Anglo American plc (LON:AAL) gapped up by GBX 35.48 today and has GBX 1271.67 target or 4.00% above today’s GBX 1222.76 share price. The 6 months technical chart setup indicates low risk for the GBX 16.94 billion company. The gap was reported on Nov, 23 by Barchart.com. If the GBX 1271.67 price target is reached, the company will be worth GBX 677.60 million 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 1.22% or GBX 14.76 on November 23, hitting GBX 1222.76. About 8.00M shares traded hands. Anglo American plc (LON:AAL) has risen 77.88% since April 25, 2016 and is uptrending. It has outperformed by 72.55% the S&P500.
Anglo American plc (LON:AAL) Ratings Coverage
Out of 27 analysts covering Anglo American PLC (LON:AAL), 8 rate it a “Buy”, 9 “Sell”, while 10 “Hold”. This means 30% are positive. GBX 2050 is the highest target while GBX 152 is the lowest. The GBX 848.35 average target is -30.62% below today’s (GBX 1222.76) stock price. Anglo American PLC has been the topic of 333 analyst reports since July 22, 2015 according to StockzIntelligence Inc. The rating was maintained by Barclays Capital with “Underweight” on Thursday, January 7. The stock of Anglo American plc (LON:AAL) has “Underweight” rating given on Wednesday, February 17 by Barclays Capital. The stock of Anglo American plc (LON:AAL) has “Overweight” rating given on Monday, August 22 by JP Morgan. The firm has “Underperform” rating given on Thursday, August 4 by Macquarie Research. As per Wednesday, November 2, the company rating was maintained by Canaccord Genuity. The stock has “Underperform” rating given by BNP Paribas on Wednesday, March 16. The firm has “Sector Performer” rating given on Wednesday, July 27 by RBC Capital Markets. Bernstein maintained the shares of AAL in a report on Monday, February 1 with “Outperform” rating. HSBC maintained Anglo American plc (LON:AAL) rating on Monday, August 1. HSBC has “Hold” rating and GBX 930 price target. The company was maintained on Monday, April 25 by Deutsche Bank.
Another recent and important Anglo American plc (LON:AAL) news was published by Wsj.com which published an article titled: “Anglo American Halts Operations at Los Bronces Mine in Chile” on November 17, 2016.
Anglo American plc focuses its business on its portfolio of diamonds, platinum group metals and copper. The company has a market cap of 16.94 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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