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New Buy Rating for Anglo American (NGLOY), the Basic Materials Giant

Tipranks - Tipranks - Tue Feb 10, 12:50AM CST

In a report released on February 6, Richard Hatch from Berenberg Bank maintained a Buy rating on Anglo American, with a price target of $28.00. The company’s shares closed last Friday at $23.38.

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According to TipRanks, Hatch is a 5-star analyst with an average return of 24.6% and a 58.95% success rate. Hatch covers the Basic Materials sector, focusing on stocks such as Rio Tinto, Ecora Royalties PLC, and Atalaya Mining.

Currently, the analyst consensus on Anglo American is a Moderate Buy with an average price target of $22.00.

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Based on Anglo American’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $8.95 billion and a GAAP net loss of $1.88 billion. In comparison, last year the company earned a revenue of $9.58 billion and had a GAAP net loss of $672 million

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