AngloGold Ashanti (AU) Upgraded by Zacks Investment Research to Buy

Zacks Investment Research upgraded shares of AngloGold Ashanti (NYSE:AU) from a hold rating to a buy rating in a research note published on Wednesday, January 3rd. They currently have $12.00 target price on the mining company’s stock.

According to Zacks, “AngloGold Limited is the largest gold producer at 7 million ounces a year, with reserves of 126 m oz. The company has operations in six countries on three continents, some of which are joint ventures, as well as exploration activities in ten countries. AngloGold can be financially characterized by high cash generation, substantial reinvestment in long-term growth and the payment of significant dividends. The company distinguishes itself from its producer peer group through its active involvement in the development of the gold market, particularly in Asia. “

Other analysts also recently issued research reports about the stock. JPMorgan Chase & Co. raised shares of AngloGold Ashanti from a neutral rating to an overweight rating in a research report on Monday, October 16th. Royal Bank of Canada raised shares of AngloGold Ashanti from a sector perform rating to an outperform rating and set a $11.50 target price on the stock in a research report on Monday, November 13th. raised shares of AngloGold Ashanti from a hold rating to a buy rating in a research report on Tuesday, November 7th. Deutsche Bank raised shares of AngloGold Ashanti from a hold rating to a buy rating in a research report on Thursday, November 30th. Finally, ValuEngine downgraded shares of AngloGold Ashanti from a hold rating to a sell rating in a research report on Sunday, December 31st. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company. AngloGold Ashanti currently has a consensus rating of Hold and an average price target of $11.75.

AngloGold Ashanti (NYSE AU) traded down $0.04 during trading hours on Wednesday, reaching $10.63. 2,601,331 shares of the company’s stock traded hands, compared to its average volume of 3,070,000. The stock has a market cap of $4,420.00, a P/E ratio of -26.58, a PEG ratio of 0.29 and a beta of -1.40. AngloGold Ashanti has a 12 month low of $8.86 and a 12 month high of $13.68. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.65 and a current ratio of 1.57.

Several hedge funds have recently added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd boosted its holdings in shares of AngloGold Ashanti by 22.2% in the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 29,292 shares of the mining company’s stock valued at $285,000 after acquiring an additional 5,314 shares during the last quarter. BNP Paribas Arbitrage SA boosted its holdings in shares of AngloGold Ashanti by 11.3% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 55,611 shares of the mining company’s stock valued at $541,000 after acquiring an additional 5,634 shares during the last quarter. Fox Run Management L.L.C. purchased a new stake in shares of AngloGold Ashanti in the 3rd quarter valued at $123,000. OxFORD Asset Management LLP boosted its holdings in shares of AngloGold Ashanti by 17.9% in the 3rd quarter. OxFORD Asset Management LLP now owns 104,703 shares of the mining company’s stock valued at $981,000 after acquiring an additional 15,886 shares during the last quarter. Finally, Nationwide Fund Advisors boosted its holdings in shares of AngloGold Ashanti by 202.5% in the 3rd quarter. Nationwide Fund Advisors now owns 24,344 shares of the mining company’s stock valued at $226,000 after acquiring an additional 16,296 shares during the last quarter. 31.27% of the stock is currently owned by institutional investors and hedge funds.

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About AngloGold Ashanti

AngloGold Ashanti Limited (AngloGold Ashanti) is a gold mining company. The Company’s business activities span the spectrum of the mining value chain. Its main product is gold. Its portfolio includes over 17 mines in approximately nine countries. It also produces silver, uranium and sulfuric acid as by-products.

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