Here's Why Anglo American (NGLOY) is a Great Momentum Stock to Buy

Core Insights - The article discusses the concept of momentum investing, emphasizing the strategy of buying stocks that are trending upwards with the hope of selling them at even higher prices. The focus is on the importance of price trends in making profitable trades [1]. Company Overview: Anglo American (NGLOY) - Anglo American currently holds a Momentum Style Score of B, indicating a positive outlook based on its price changes and earnings estimate revisions [2]. - The company has a Zacks Rank of 2 (Buy), which is associated with a strong historical performance, particularly for stocks rated 1 (Strong Buy) and 2 (Buy) with Style Scores of "A or B" [3]. Performance Metrics - Over the past week, shares of NGLOY have increased by 2.28%, while the Zacks Mining - Miscellaneous industry has decreased by 1.38% during the same period [5]. - In a longer timeframe, NGLOY's shares have risen by 10.09% over the past month, outperforming the industry's 2.65% [5]. - Over the last quarter, NGLOY shares have increased by 27.44%, and over the past year, they have risen by 37.51%. In comparison, the S&P 500 has only moved 3.37% and 15.17%, respectively [6]. Trading Volume - The average 20-day trading volume for NGLOY is 784,185 shares, which serves as a baseline for price-to-volume analysis. A rising stock with above-average volume is generally seen as a bullish indicator [7]. Earnings Outlook - In the past two months, one earnings estimate for NGLOY has increased, while none have decreased, leading to a consensus estimate rise from $0.71 to $0.77 for the full year. For the next fiscal year, one estimate has also moved upwards without any downward revisions [9]. Conclusion - Given the positive momentum indicators and earnings outlook, NGLOY is positioned as a 2 (Buy) stock with a Momentum Score of B, making it a potential candidate for investors seeking short-term gains [11].