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

Berenberg Bank analyst Richard Hatch maintained a Buy rating on Anglo American yesterday and set a price target of p3,400.00. The company’s shares closed yesterday at p2,838.00.

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According to TipRanks, Hatch is a 5-star analyst with an average return of 17.7% and a 55.38% success rate. Hatch covers the Basic Materials sector, focusing on stocks such as Rainbow Rare Earths, Antofagasta, and Wheaton Precious Metals.

Anglo American has an analyst consensus of Moderate Buy, with a price target consensus of $39.53, implying a -98.61% downside from current levels. In a report released on December 10, Barclays also maintained a Buy rating on the stock with a £33.00 price target.

Based on Anglo American’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of p8.95 billion and a GAAP net loss of p1.88 billion. In comparison, last year the company earned a revenue of p14.46 billion and had a GAAP net loss of p672 million

Based on the recent corporate insider activity of 146 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of AAUKF in relation to earlier this year.